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SOUTH AFRICA: SARB Says Risks to Inflation Are to the Upside

SOUTH AFRICA
  • “SARB sees inflation avg 3.9% in 2025; saw 4%” (BBG)
    • “SARB sees inflation avg 4.6% in 2026; unchanged from pvs. Est.”
    • “SARB sees core inflation avg 4.4% in 2026; same as  pvs est.”
  • “SARB sees 2024 4Q GDP growth at 1.3% q/q” (BBG)
    • “SARB raises 2025 GDP growth est. to 1.8% from 1.7%”
    • “SARB sees S. Africa GDP growth at 1.8% in 2026, 2% in 2027”
  • "SARB model sees repo rate 7.39% by end '25; saw 7.4%"
    • “SARB model sees repo rate 7.29% by end '26; saw 7.27%”
  • “SARB risks to inflation outlook are to the upside"
  • "SARB says medium-term inflation outlook is uncertain"
  • "SARB says risks to growth forecast are balanced"
  • "SARB sees CPI in lower half of target band in H1’25, 4.6% in Q4"
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  • “SARB sees inflation avg 3.9% in 2025; saw 4%” (BBG)
    • “SARB sees inflation avg 4.6% in 2026; unchanged from pvs. Est.”
    • “SARB sees core inflation avg 4.4% in 2026; same as  pvs est.”
  • “SARB sees 2024 4Q GDP growth at 1.3% q/q” (BBG)
    • “SARB raises 2025 GDP growth est. to 1.8% from 1.7%”
    • “SARB sees S. Africa GDP growth at 1.8% in 2026, 2% in 2027”
  • "SARB model sees repo rate 7.39% by end '25; saw 7.4%"
    • “SARB model sees repo rate 7.29% by end '26; saw 7.27%”
  • “SARB risks to inflation outlook are to the upside"
  • "SARB says medium-term inflation outlook is uncertain"
  • "SARB says risks to growth forecast are balanced"
  • "SARB sees CPI in lower half of target band in H1’25, 4.6% in Q4"