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- SARB sees s. 2021 gdp forecast unchanghed at 4.2%
- model sees repurchase rate at 3.79% by end of 2021
- sees CPI avg 4.3% in 2021 vs pvs est. of 4.2% CPI avg 4.2% in 2022, 4.5% in 2023
- sees repurchase rate at 6.12% by end of 2023 s
- sees core CPIavg 2.9% in 2021 vs pvs est. of 3% GDP growth at 2.3% in 2022, 2.4% in 2023
- SARBmodel assumes 2021 oil price of $66.7/bbl; pvs. $62.2
- assumes 10.6% electricity price change in 2021 central bank sees downside risks to gdp growth
- SARB says risk to s/t inflation outlook to upside sarb sees food, fuel, power as upside cpi risks
- decision unanimous
- SARB says anchored cpi could keep rates low for longer
- SARB says future policy decisions data-dependent