South African central bank predicts higher inflation and more rate rises
Inflationary pressures are rising, Sarb says
The South African Reserve Bank changed its forecast for policy rates at its policy committee meeting today (July 19), saying it now expects more rate hikes.
The central bank’s quarterly projection model now projects five increases of 25 basis points will occur by the end of 2020, governor Lesetja Kganyago said in a statement. The committee voted unanimously to leave rates on hold at 6.5%.
The central bank also raised its medium-term inflation forecast. It now expects headline inflation to
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