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SARB Press Conference Beginning Shortly (13:00GMT)

SOUTH AFRICA
  • The SARB will announce the outcome of the latest monetary policy meeting during a press conference starting at 13:00GMT/15:00SAST.
  • Rates are unanimously expected to remain on hold after a surprise uptick in key inflation metrics dispelled any doubts about the near-term course of action.
  • The SARB’s communications continue to signal an intention to anchor inflation (both headline and the core component) as well as inflation expectations at the +4.5% Y/Y mid-point of the +3.0-6.0% target band, with Governor Lesetja Kganyago stressing that monetary easing may not begin until this is achieved in a sustainable manner.
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