SA’s inflation rate moved closer to the top of the central bank’s target range in December, highlighting the difficult choice between taming price growth and supporting a sluggish economy policy makers will face when deciding on interest rates. Moneyweb
South Africa’s inflation rate moved closer to the top of the central bank’s target range in December, highlighting the difficult choice between taming price growth and supporting a sluggish economy policy makers will face when deciding on interest rates next week. The annual inflation rate rose to a near five-year high of 5.9%, compared with 5.5% in November, Statistics South Africa said Wednesday in a statement on its website. The median of 19 economists’ estimates in a Bloomberg survey was 5.
The Reserve Bank could pause the hiking cycle this month to support an economy reeling from the fallout of a fourth wave of coronavirus infections. Economists predict international travel bans, imposed on South Africa after its discovery of the omicron variant, risk stalling the country’s economic recovery. Forward-rate agreements starting in one month, used to speculate on borrowing costs, signal traders are pricing in a full quarter-point increase in the repurchase rate on January 27.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
SA consumer inflation hits five-year high at 5.9%The main factor behind the increase was the transport category, which recorded an annual increase of 16.8% in December
Read more »
Rising star Jansen wants SA to take the fight to India in ODI seriesHaving so many players involved from the victorious Test team will boost team, speedster says
Read more »
Stock picks from top SA market watchers and money managersMoneyweb shares strategies and stock picks from five well-known market commentators and investment professionals. Moneyweb BuyingStock
Read more »
Boosters do not stop Omicron but still protect, SA-German study showsThe German/SA study was conducted on seven Germans who had already received boosters before their arrival in Cape Town and who were infected by Omicron
Read more »
SA win toss and decide to bat in first ODI against IndiaSA have won the toss and elected to bat in the first ODI against India at Boland Park in Paarl.
Read more »
Bain&Co voluntarily quits Business Leadership SABain was previously suspended as a BLSA member in September 2018.
Read more »