Stats SA on Wednesday announced that consumer inflation had jumped to 7.4% – substantially above the bank’s target of 3% to 6%.and the prime rate at 9%.“You can rest assured that the South African Reserve Bank is determined to act on the rise in inflation. We also hear the cries of South Africans about the rising prices. We hear the cries of South Africans, that inflation is eroding their income,” says Kganyago.
“We are determined as the South African Reserve Bank, to protect the income of South Africans. The steps that we have taken so far to act against rising inflation, demonstrates our determination,” explains Kganyago.
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