South African Reserve Bank highlights of the state
- Upside risks to the CPI outlook have increased
- Risks linked to the CPI include the rand and the oil price
- Rand pressure offset by better 2018 food CPI outlook
- Sees food inflation to 4.5% in 2018, and 5.9% in 2019
- Less favourable fiscal path can reduce the scope of the easing
Sounds like «hawkish» things, but not to change from the 6.75% rate is universally expected. We’ll get a decision any time on the rates.