Reserve Bank governor says four interest rate increases are envisaged next year after recent unrest and violence. | City_Press
If government debt stabilises, electricity supply improves and wage increases are curbed, inflation expectations for this year and next may be lower, which means the SA Reserve Bank would be able to keep interest rates lower for longer, but, for now, five increases are on the cards until the end of next year, according to governor Lesetja Kganyago.
According to Bishop, confidence must be restored as soon as possible to ensure economic recovery after a decade of mismanagement and the effects of the Covid-19 pandemic. The publication uses the price of a Big Mac to determine if currencies are overvalued or undervalued. The index assumes that a Big Mac should cost the same in different countries.
The recent unrest and violence contributed to the narrative that the economy was on the decline, which hurt investor sentiment, it was reported.
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