🚨 Consumers heaved a collective sigh of relief on Thursday when the ReserveBank decided to keep the RepoRate at its current level More on TheCitizenBusiness:
eased in much of the world, core inflation remains elevated, preventing consumer price inflation from falling more sharply. “Globally, monetary policy is likely to remain focused on ensuring inflation continues to retreat, implying policy rates will stay higher. We expect markets in major financial centres to remain volatile.”
“While households and firms exhibit resilience, economic growth has been volatile for some time and highly sensitive to new shocks. An improvement in logistics and a sustained reduction in load shedding, or greater energy supply from alternative sources, would significantly increase growth,” Kganyago said.
“Despite recent easing in some food price components, domestic food price inflation is still elevated at 11% in June and the risk of drier weather conditions in coming months has increased. In the absence of sustained and consistent increases in energy supply, electricity prices continue to present clear inflation risks.
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