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SARB Model Sees Steeper Normalisation, but Growth Risks on the Rise

SOUTH AFRICA
  • *S.AFRICA SARB MODEL SHOWS STEEPER RATE HIKE PATH IN 2022
  • S. AFRICA SARB MODEL SEES REPO RATE 5.3% BY END '22; SAW 5.06%

Growth:

  • SARB LOWERS S. AFRICA 2022 GDP GROWTH EST. TO 1.7% FROM 2%
  • SARB SEES S. AFRICA GDP GROWTH AT 1.9% IN 2023 AND IN 2024
prices
  • SARB MODEL ASSUMES 2022 OIL PRICE OF $103/BBL; SAME AS IN MARCH
  • SARB ASSUMES 2023 POWER PRICE INCREASE 9.2%; SAME AS IN MARCH
  • *S. AFRICA SARB SEES UPSIDE RISKS TO INFLATION OUTLOOK
  • S. AFRICA SARB SEES FUEL-PRICE INFLATION EASING IN 2023
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

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