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Mboweni: Drastic measures required after CPIX figures

South African Reserve Bank Governor Tito Mboweni said on Wednesday that the task of the central bank is to maintain inflation in the 3% to 6% target band, and with CPIX (consumer inflation less mortgage costs) now at 10,4%, "drastic" measures are required. "This is way above the upper limit -- you don't have to be a genius to tell interest rates have to tighten," he said.

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