South Africa’s (SA) threat of more generalised price hike in the local economy has increased substantially.
This was the word from the SA Reserve Bank (SARB), which convened its Monetary Policy Review meeting, reflecting on monetary policy from April to September this year.
The Monetary Policy Committee of the SARB raised rates by 50 basis points during the period as it sought to deal with evidence of higher inflation and influence price expectations.
The bank noted that while the global economy had remained relatively resilient in difficult times, global inflation had risen between April and September this year.
Central banks, including SARB, had moved to curb inflationary pressures.
–SABC–
