South Africa inflation set to exceed target range

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On Thursday, Gill Marcus, governor of the South African Reserve Bank, announced that the country's inflation rate is set to exceed the target range.

"Since the previous meeting of the Monetary Policy Committee (MPC), the inflation outlook has deteriorated further, mainly as a result of external cost-push factors," said Marcus. "Underlying demand conditions remain relatively restrained, and are not seen to pose a significant risk to the inflation outlook at this stage. However, there are elevated

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