Reserve Bank Governor Lesetja Kganyago. (Waldo Swiegers / Bloomberg through Getty Imager)
The South African Reserve Bank has been announced on Thursday, interest rates, which are risks from global economic uncertainty and inflation to global economic uncertainty and inflation.
The extensive anticipated decision is divided between two members divided between the committee members and decided to choose the fourth decision.
The head interest rate remains 11%.
“In a few quarters, South Africa’s confidence in South Africa, with a small country’s risk and low-bond product, and the global economy has no stable units, and this affordable trends are in internal uncertainties. This provides a careful policy,” said Kganyago said.
The shifts of geopolitical relations and inflation in developed countries and inflation in developed countries, including trade tensions, US members and the United Kingdom, were celebrated as concern.
Internal inflation is still higher than the mid-point of the 3-6% target group of the reserve bank, it was higher in the last few months.
The annual consumer inflation has not changed in February, 3.2%, housing and utilities, food and alcoholic drinks and restaurants and restaurants and restaurants and restaurants and restaurants and restaurants and habitats.
“We continue to see low inflation for goods likely to be temporarily. The service inflation is slightly higher, but 4.5% is below the target midpoint,” Kganyago said.
Inflation expectations are close to the middle point, but inflation was seen in inflation. ”
“The total result of these changes is now a low inflation worldview, which is now projected by 3.6% and 4.5% next year.”
Kganyago belonged to better fuel and price projects, which reflects the Road of Inign for “managed prices” for low electricity tariffs announced by NERSA (South African National Energy Regulator). ”
“These factors are increasing the proposed VAT increase, which will add about 0.2 percentage to the hood for inflation.”
Kganyago, on the risks for this projection, is on the downside, “with the balance of the risks under the average term”, but also in a negative. ”
Although the economy fell by 0.6% in the fourth quarter of 2024, Kganyago, the general growth form “disappointed with other sectors showing weakness,” he said.
In 2024, the total increase was 0.6%, from the bottom of the bank’s expectations and below 2023.
The bank reconsidered the 2025 economic growth forecast to 1.7%.
“We are partially revoked by low growth, and partly, we associate with the supply side of the supply for a long time,” he said.
Standard Bank Economist Elza Moolman said that there is a disappointment for consumers who hoped for cutting another percentage rate of interest in the interest rate, but “it is possible to reduce interest rates again.”
Investment, in July, and then 25 main points were cut in November.
The Reserve Bank’s Monetary Policy Committee meets again in May.
