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SARB Gov Says Job Of Inflation Fighting Is Not Yet Done, CPI Data On Tap

SOUTH AFRICA
  • South Africa Reserve Bank (SARB) Governor Lesetja Kganyago reiterated that the job of fighting inflation is "not yet done" and that the central bank is ready to stick with tight monetary policy settings until price pressures are contained. The official warned that policy may have to remain restrictive for longer in order to prevent inflation expectations from de-anchoring.
  • A Nguvu Collecctive survey showed that loadshedding and corruption were the most important issues for South African voters ahead of the May 29 elections. Respectively 85.5% and 83% of respondents pointed to these matters when asked which issues need immediate resolution.
  • South Africa's CPI inflation may have cooled to +5.4% Y/Y in March from +5.6% prior, according to a survey of economists run by Bloomberg. Core inflation may have eased to +4.9% Y/Y from +5.0%. The data will cross the wires at 09:00BST/10:00SAST. Click here to see more details on the upcoming release.
  • Later in the day, Statistics SA will release February retail sales data at 12:00BST/13:00SAST.

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