The inflation headline eased to 4.4% in August, a three-year low, and close to the middle of the SARB’s target range.
Last month, the Reserve Bank’s MPC decided to reduce the policy rate by 0.25%, but since then, the fundamentals have not changed much. Modise says, “The pre-inflation outcome is better than expected, and there were some lowering of the inflation expectations. So far from the previous MPC to the one we’re moving to, the fundamentals haven’t changed and we’re experiencing the momentum that we saw from the previous MPC.”
“That’s a very good thing because it means we still see some appreciation of the rand, although it has stabilised at around 17.6, but that’s good from other MPCs were at 18 points something. So, if that is persistent then we might see an even better outlook on inflation in the next one.” With Gross Domestic Product strengthening by 0.4% in the second quarter of this year, economist Professor Raymond Parsons is optimistic about the country’s economic outlook. Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.
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