As expected, the Reserve Bank’s monetary policy committee kept the repo rate unchanged at 6.75% on Thursday.
Inflation is expected to moderate this year and the Bank has made it clear it would prefer to see inflation anchored at the mid-point of its 3%-6% inflation target range. In April, inflation was below the mid-point, at 4.4%. The Bank highlighted the risks to growth as first quarter GDP looks set to contract based on weak performances in mining, manufacturing and retail."Domestically, electricity supply constraints and protracted strike in a major gold mine contributed to a weak first-quarter performance," he said.
"The rand has benefited from improved sentiment towards riskier assets but will continue to be affected by idiosyncratic factors, such as domestic growth prospects and policy settings," Kganyago said.
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ECONOMIC WEEK AHEAD: No changes expected from Reserve Bank and S&PDespite weak economic growth and low inflation, an interest rate cut and a rating downgrade are not likely, writes Sunita Menon the headline n story not the same Dans wants respect from who? Bafana bafana? I say again, don’t drink and tweet🙂 He wasted his time at Chippa United. I suspect he will go back again in the near future as they are always changing coaches.
Source: BDliveSA - 🏆 12. / 63 Read more »
Source: BDliveSA - 🏆 12. / 63 Read more »