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Raymond Parsons 26 Jan 2023
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CPT rate remains unchanged
South Africa's inflation rate remained at 5,3% in August according to Statistics South Africa and was better than analysts had forecast according to Business Live.
It says that economists had predicted that the rate would rise to 5,5% year-on-year for the month. The better-than-expected rates mean that a rise in interest rates from the Monetary Policy Committee's meeting today is unlikely.
It quotes Adenaan Hardien, chief economist at Cadiz as saying that the lack-lustre performance of the South African economy, along with the fragility of the global economy means that the Reserve Bank is unlikely to push interest rates higher until at least 2013.
Read the full article on www.businesslive.co.za.
More on Statistics South Africa.
