Hawkish Reserve Bank opts to hold rates steady
Rampant food and energy inflation continues to pose a risk to the economy
21 September 2023 - 15:14
UPDATED 21 September 2023 - 18:42
The Reserve Bank left borrowing costs unchanged for a second consecutive meeting but struck a cautious tone amid persistent upside risks to the inflation outlook and a decline in fiscal sustainability, which continues to drive the country’s risk premium.
The decision to keep the repo rate at 8.25% on Thursday was in line with the latest Reuters analysts’ consensus showing that 29 out of 30 analysts expected no change in the repo rate, with only one forecasting a hike...
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