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Central Bank Keeps Repo Rate Unchanged At 8.25%

SARB

SARB Governor Lesetja Kganyago announces that the Monetary Policy Council voted 3-2 to keep the repo rate unchanged at 8.25%, with the two dissenters voting for a 25bp rate hike. The central bank has also unveiled its updated inflation forecasts, with Kganyago noting that the risks to the price outlook are tilted to the upside.

  • CPI
    • 2023: +6.0% Y/Y (prev. +6.2%)
    • 2024: +5.0% Y/Y (prev. +5.1%)
    • 2025: +4.5% Y/Y (prev. +4.5%)
  • Core CPI
    • 2023: +5.2% Y/Y (prev. +5.3%)
    • 2024: +4.9% Y/Y (prev. +5.0%)
    • 2025: +4.5% Y/Y (prev. +4.6%)

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