SARB Release October Monetary Policy Review

Some selected highlights from the document:

• Upside risks to inflation had strengthened over the past months, heightening uncertainty about a precise path for inflation.
• Rise in oil prices, dry weather conditions and elevated inflation expectations were all negatively impacting the inflation outlook.
• Current level of interest rates will be enough to steer inflation back to its targeted midpoint over a medium term.
• Although domestic headline inflation has returned to within the target range over the past three months, its stabilisation at the target midpoint is not an accomplished fact.
• Greater policy complementarities and the speedy implementation of structural reforms to ensure an adequate supply of energy, solve logistics challenges and reduce the impact of administered prices on inflation, would provide significant economic benefits, including a further deceleration of inflation.

See the full report here.