SARB Governor Kganyago says risks to the outlook balanced
- Growth risks more or less balanced'
- Future moves are data dependent
- Decision was unanimous
- Rand remains upside risk
- Temporary overshoot of rand possible when Fed hikes rates
- The SARB slashed growth forecasts for 2015, 2016 and 2017
- Risks to CPI on the upside, sees high probability of extended breach
- Exchange rate primary upside risk to inflation
USD/ZAR rose to 13.71 from 13.64 but most of it came on the dovish headlines ahead of the rate announcement.
