Reserve Bank keeps repo rate unchanged, warns municipal dysfunction holds back economic growth
This is despite inflation increasing to 5%, higher than the Reserve Bank’s inflation target of 3% Households continue to suffer Kganyago noted that first-quarter growth was stronger than expected, running close to 2% year-on-year.
By contrast, the favourable scenario shows inflation returning to target more rapidly, implying that rates start easing in the current year.” He noted that inflation has been above target mainly because of higher fuel prices.
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