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South African inflation is higher than expected, but the SARB keeps interest rates unchanged

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In this podcast, STANLIB Chief Economist Kevin Lings discusses SA’s October CPI data, which surprised on the upside, rising to 5.9% year-on-year. He notes, though, that core inflation is still relatively well contained, at 4.4% y/y (from 4.5% in September). He also discusses the South African Reserve Bank (SARB)’s decision to leave interest rates unchanged at 8.25%. The SARB would probably like to keep rates unchanged into mid-2024 and then cut into 2025, but it has highlighted upside risks to inflation.
27 Nov 2023 English South Africa Investing · Business News

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