The South African Reserve Bank released the Monetary Policy Review on Tuesday. The review covers domestic and international developments affecting monetary policy.
The Governor of the Reserve Bank, Lesetja Kganyago noted that that the economy is projected to expand by 1.1% this year, rising to 1.8% in 2026. Picture: SA Reserve Bank/XThe South Africa n Reserve Bank’s Monetary Policy Review was released on Tuesday and noted that inflation is slowly returning to targets the South Africa n economy is projected to expand by 1.1% this year.
“While headline inflation in the near term will benefit from lower fuel prices, it is expected to remain around 4.5% over the forecast period,” according to the review.Monetary Policy Committee decided to lower the repurchase rate by 25 basis pointsThe Reserve Bank noted that the South African economy is also projected to expand by 1.8% in 2026.
South Africa’s economy will also expand due to a better-functioning logistics sector and lower inflation and interest rates, the SARB noted.The SARB’s primary indicator of underlying inflation is Core inflation and this has since April 2024 has moved closer to the midpoint, and dipped below it in July and further to 4.1% in August, the Bank noted.
“Headline inflation is expected to average 4.6% in 2024 and to undershoot the target midpoint from the third quarter of this year through to the end of the forecast period.”
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