Lesetja Kganyago defended the bank’s inflation-targeting regime amid criticism that it will do little to cushion consumers against external shocks
With high prices continuing to bear down on consumers the world over, leaders who fail to bring inflation to heel could face a reckoning
The rescue proposal designed by and for African countries is targeted at ensuring future food security as the continent struggles to procure key agricultural commodities, such as wheat, because of the war in eastern Europe.
In a split decision, the bank’s monetary policy committee increased the repo rate, which affects the cost of borrowing, by 75 basis points
Consumer inflation surged again, after piercing the South African Reserve Bank’s ceiling for the first time in five years
Most respondents to a DebtBusters survey are anxious or uneasy about the state of their finances
This is according to some economists, who say the Reserve Bank got ahead of the curve before inflation became entrenched
It could prove difficult for government to loosen its grip on the public purse, but economists say the current extraordinary circumstances require intervention
Some of the conditions in which the July unrest occurred have abated but others, such as the spiralling cost of living, have worsened
The higher producer prices come after consumer inflation also bucked consensus expectations
Some small to medium businesses are taking as long as 180 days to settle debts, according to an assessment by international insurer Allianz Trade
The outlook on food products prices will remain mixed, despite the recent broad increase in products prices.
Producer price inflation reached 13.1% in April, marking the highest print since 2012
Inflation has breached the ceiling of the Reserve Bank’s target range for the first time in more than five years
A deep downturn is unlikely, analysts say. But, if it does happen, another recession will be even more difficult to recover from
The financially stretched middle class is teetering on the brink as fuel and food prices gnaw at their disposable incomes
Consumers, who have remained resilient despite South Africa’s economic woes over the past decade, are being squeezed on all fronts. What are the policy options? Or is it the same old, same old
But forecasters are expecting the jobless rate to stay elevated, as load-shedding and inflation take their toll
High food and fuel prices have prompted trade unions to make bigger wage demands, which will exert upward pressure on longer-term inflation
There is a lot bearing down on South African consumers and, without growth, the economy stands to decline
Developed countries could do much to help counterparts in the developing world weather the current storm
African governments face civil unrest from people who are hungrier and poorer because of the pandemic, war in Ukraine, climate pressures on food systems and poor policy decisions
South Africa’s fate is tied to China’s, but war-related disruptions in the global energy market keep exports going
The rand has managed to withstand even the strongest global headwinds, but it is unlikely it will continue to hold steady in the wake of the Fed’s aggression
High prices have been more stubborn than previously expected, forcing monetary policymakers to react
Consumer price inflation increased to 5.9% in March, up from 5.7% in February
The disruptions brought by the Russia-Ukraine war will increase the costs of basic staples, putting 280-million people across the world at risk of starvation.
Elevated inflation looks set to stick around for some time, both in South Africa and global economy
On top of record-breaking fuel hikes and rising costs of grain-based feed, consumers can expect a steep price increase in chicken
Consumer inflation is expected to remain close to the central bank’s 6% ceiling, amid war-induced oil price rally
The oil giant’s chief executive flagged the consequences of the West’s moves to disentangle itself from Moscow’s energy system
The slowdown was helped by lower fuel prices. But this relief was temporary, as February saw another petrol hike