will leave interest rates unchanged next week as it manages a tight balancing act between inflation threatening to quicken later this year and a weak growth outlook, aAll 30 economists polled in the past four days were unanimous in saying rates would be held at 6.75% on May 23 and through to at least the end of next year, chiming with other central banks which have drawn a line under tightening cycles.
“For the rest of the year, there is a higher risk of inflation going higher than going down, with the sharp increase on fuel prices, and we are starting to see pressure on food prices and the rand remains vulnerable.” Still, South Africa remains under pressure from slow economic growth, with a deteriorating pace in recent years contributing to revenue shortfalls and a weakening of the financial position of state-owned companies.
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