South African Reserve Bank statement highlights
- Upside risks to CPI outlook have increased
- Risks to CPI include rand and oil prices
- Rand pressures offset by better 2018 food CPI outlook
- Sees food inflation at 4.5% in 2018 and 5.9% in 2019
- Less favorable fiscal path may reduce scope for easing
Sounds like hawkish stuff but no change from the 6.75% rate is universally expected. We will get a decision any moment on rates.