The South African Reserve Bank Monetary Policy Committee has started its three-day meeting today. Analysts expect no change in interest rates this month, but is cognisant of the risk of monetary policy tightening later this year as inflation pressures build.
The range of forecasts of economic growth in SA in 2019 remain conservative, including from the SARB. The World Bank recently reduced its growth forecast for SA this year from 1.8% to 1.3% and MPC’s expectation is of 1.7% GDP growth in 2019, with downside risks. The MPC has rightly expressed its concern about weak fixed capital formation inhibiting future growth potential. To discuss this we are joined by Maud Lentsoane MD of Lehumo Investments.
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