May 30, 2024 13:06 GMT
SOUTH AFRICA: SARB Leaves 2024 Average Inflation, GDP Growth Forecasts Unchanged
SOUTH AFRICA
SARB sees inflation avg 5.1% in 2024; saw 5.1%
- SARB sees inflation avg 4.5% in 2025; saw 4.6%
SARB sees core inflation avg 4.7% in 2024; saw 4.8%
- SARB sees core inflation avg 4.6% in 2025; saw 4.6%
SARB says 2024 GDP growth est. unchanged at 1.2%
- SARB sees GDP growth at 1.4% in 2025, 1.6% in 2026
SARB model sees repo rate 7.64% by end '24; saw 7.72%
- SARB model sees repo rate 7.34% by end '25; saw 7.37%
- SARB model still sees repo rate at 7.33% by end '26
SARB concerned that inflation expectations remain elevated
SARB says task of achieving inflation goal not yet done
SARB sees risks to inflation as broadly balanced (BBG)
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