Free Trial

SOUTH AFRICA: SARB Hold Decision Unanimous

SOUTH AFRICA

Highlights from the policy statement:

  • Turning to the outlook, we now see inflation stabilising at our 4.5% objective in the second quarter of next year. This is an improvement on our March forecast, which only reached this milestone at the end of 2025.
  • The task of achieving our inflation objective is not yet done.
  • The Committee remains concerned that inflation expectations are elevated.
  • Although the MPC assesses the inflation forecast risks to be broadly balanced at present, high inflation expectations require that we deliver on our target sooner rather than later, to re-anchor expectations.
  • We assess the risks to the growth outlook as balanced.
  • The decision was unanimous.

See the full statement here.

106 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

Highlights from the policy statement:

  • Turning to the outlook, we now see inflation stabilising at our 4.5% objective in the second quarter of next year. This is an improvement on our March forecast, which only reached this milestone at the end of 2025.
  • The task of achieving our inflation objective is not yet done.
  • The Committee remains concerned that inflation expectations are elevated.
  • Although the MPC assesses the inflation forecast risks to be broadly balanced at present, high inflation expectations require that we deliver on our target sooner rather than later, to re-anchor expectations.
  • We assess the risks to the growth outlook as balanced.
  • The decision was unanimous.

See the full statement here.