GUGU TALKS TO MPHO TSEBE,RMB ECONOMIST

Statistics South Africa (StatsSA) reported on April 17th that consumer price inflation increased from 4.1% year-on-year (y-o-y) in February to 4.5% y-o-y in March. The increase in headline y-o-y inflation during March was associated mainly with increases in inflation of transport and education. However, the MPC said at a press conference on March 28th that it decided to keep interest rates on hold, based on the view that the overall risks to the inflation outlook are more or less evenly balanced.