The South African Reserve Bank is likely to hike its repo rate to try slow inflation.
Statistics SA will also release the consumer price index. Economic analyst Professor Bonke Dumisa says the CPI is likely to increase because of the Ukraine war’s effect on oil prices.
Reserve Bank Governor Lesetja Kganyago raised the repo rate by 25 basis points in January.
He warned that higher food, fuel and energy prices will keep inflation at elevated levels.
Source: eNCA
In other news – Trevor Noah: Don’t cancel Kanye West
Trevor Noah has insisted he doesn’t want Kanye West to be “cancelled”. The 44-year-old rapper was recently banned from Instagram for 24 hours after using a racial slur towards the ‘Daily Show’ host.
Who had criticised the ‘Stronger’ hitmaker for his conduct towards ex-wife Kim Kardashian and her boyfriend Pete Davidson – and was then dropped from performing at the Grammy Awards because of his “troublesome online behaviour. Learn more
