SA Reserve Bank governor Lesetja Kganyago is still cautious in regard to inflation, saying the bank will not hesitate to act should inflation remain stubborn
BUSINESS
Reserve bank governor Lesetja Kganyago and the monetary policy committee (MPC) left the repo rate unchanged at 8.25% on Thursday after headline consumer price inflation (CPI) fell to within the bank’s inflation target range of 3%-6% in June.
CPI slowed to a 20-month low in June, to 5.4% from 6.3% in May year-on-year. However, inflation expectations remained elevated in the second quarter after increasing to 6.5%.
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