Sarb hiking cycle is paused, not stopped, governor stresses
South African Reserve bank delays further tightening in wake of more favourable inflation outlook
The South African Reserve Bank (Sarb) has not abandoned its tightening cycle, governor Lesetja Kganyago said today (July 21) as he announced the policy rate was unchanged at 7%. "We have pressed the pause button," he stressed.
Kganyago's comments came as Sarb announced an improved inflation outlook. "The assessment of the balance of risks to the inflation outlook and the weak domestic economy has provided some room to delay further tightening of the monetary policy stance for now," he said.
Howe
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