Nobody should doubt the resolve of the central bank when it comes to bringing inflation down, even if it means hiking rates into a recession, writes ClaireBisseker.
The risks are rising that inflation is going to remain sticky this year, which means the Reserve Bank could have to keep hiking interest rates in a rapidly slowing economy, given its firm resolve to get the inflation genie back in the bottle.
It may seem senseless for the Bank to be contemplating further rate hikes when its own forecast is that South Africa will experience 250 days of load-shedding this year — 60% worse than 157 days in 2022 — and that economic growth will slow to just 0.3%. ..
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