Bank to keep raising rates due to weaker rand, says deputy governor
Fundi Tshazibana says SA has not seen inflation at the rate experienced in developed economies thanks in part to central bank policy
25 August 2022 - 20:41
The SA Reserve Bank (SARB) will keep raising rates because it is worried about the inflationary impact of a weaker rand, Reserve Bank deputy governor Fundi Tshazibana said on Thursday.
“Although exchange rate dynamics are always unpredictable, the SARB’s baseline forecast is that we are seeing some exchange rate pressure to inflation, but timely rate increases keep this from being a major source of pressure,” said Tshazibana in remarks at a conference hosted by Nedbank’s asset management arm in Johannesburg...
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