The South African Reserve Bank remains dovish following the country’s general elections

SOUTH AFRICA - Report 23 May 2019 by Iraj Abedian

The Reserve Bank’s Monetary Policy Committee has once again decided to leave the benchmark interest rate unchanged at 6.75%, leaving the prime rate at 10.25%. The last time the Reserve Bank adjusted the repo rate was in November 2018 when it increased it from 6.50% to the current 6.75%, making this the third consecutive pause in the rate change.

Yesterday the latest inflation numbers by Statistics South Africa came out and they showed that headline CPI had moderated slightly to 4.4% y/y in April 2019 from 4.5% y/y in March. With fuel prices that have been on upward trajectory for most of 2019 due to oil prices recovering from their end-2018 slump, transport continues to be the largest contributor towards rising general prices, with an inflation rate of 7.4% y/y in April.

Now read on...

Register to sample a report

Register
Sign-in
Forgot your password?
Copyright 2024 GlobalSource Partners. All rights reserved. This report is prepared for GlobalSource Partners’ clients and may not be redistributed, reproduced, stored in a retrieval system, retransmitted or disclosed, in whole or in part, or in any form or manner, without the express written consent of GlobalSource Partners. This report is distributed simultaneously to our website and other portals used by GlobalSource Partners. The information herein was obtained from various sources and is believed to be reliable but GlobalSource Partners does not warrant its completeness or accuracy. Neither GlobalSource Partners nor any Country Analyst, officer or employee accepts any liability whatsoever for any direct, indirect or consequential damages or losses rising from any use of this report or its contents.