SARB statement highlights
2018 core inflation seen at 4.4% vs 4.6% prior
2019 core inflation seen at 5.6% vs 5.5% prior
2020 core inflation seen at 5.5% vs 5.3% prior
Since prior MPC inflation risks have continued to materialize
Headline inflation model projected higher, peaking at close to upper end of target range
The South African central bank has a different way of announcing decisions. The statement is all about the forecasts but they decide on rates and announce them live in the press conference.
Update: Rates left unchanged but the vote was 4-3 with three wanting to hike.
USD/ZAR: