Trial now
US TSY FUTURES

BLOCK, 2Y

SOUTH AFRICA

SARB Leaves Rates Unchanged at 3.50%

Sign up now for free access to this content.

Please enter your details below and select your areas of interest.

  • 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