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SARB Biannual Monetary Policy Report to be Released Shortly


30 minutes out from the SARB biannual MPR. Little material change in policy messaging expected, but to pick out some of the language from the April release:

  • "High and persistent" domestic inflation risks, "rising" inflation expectations.
  • Had previously forecast CPI to average 6.0% this year and 4.9% in 2024, compared with 6.9% in 2022.
  • Domestic growth forecast at 0.2% in 2023 before rising gradually to 1.1% in 2025.

April report here.

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