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Governor Kganyago Reiterates That SARB Is Ready To Act If CPI Pressures Intensify

SARB

The SARB published the text of a speech by Governor Lesetja Kganyago delivered at the Ordinary General Meeting of the SARB shareholders today.

  • The official reiterated that the central bank is focused on returning inflation to the +4.5% Y/Y mid-point of the target range and that it stands ready to act if upside risks to the inflation outlook materialise.
  • Still, "a more pronounced moderation in inflation is expected in the latter years of the forecast horizon, with headline inflation expected to ease to an annual average of +5.0% in 2024 and +4.5% in 2025."
  • Most of the parts of Kganyago's speech that were related to monetary policy were a mere reiteration of the most recent statement.

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