(Reuters) - South Africa's central bank raised its key repo interest rate by 50 basis points to 9.5 percent on Thursday, citing rising inflationary pressures and high consumer spending.
Reserve Bank Governor Tito Mboweni said the outlook for inflation had deteriorated, and predicted that the CPIX rate would again breach the top end of the 3-6 percent target band in the fourth quarter after a short reprieve.
Read more at Reuters Africa
Reserve Bank Governor Tito Mboweni said the outlook for inflation had deteriorated, and predicted that the CPIX rate would again breach the top end of the 3-6 percent target band in the fourth quarter after a short reprieve.
Read more at Reuters Africa
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