• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

South African firms see inflation quickening before rate decision

2 years ago
in Business, Features, highlights, Home, home-news, latest News
1 min read
0 0
0
57
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

South African firms see inflation quickening before rate decision

South African inflation expectations rose at the start of 2023, suggesting the central bank may keep interest rates higher for longer.

Average inflation expectations for the year increased to 6.3% in the first quarter from 6.1% previously, according to a survey conducted by the Stellenbosch-based Bureau for Economic Research. The rate of price-growth for 2024 is now seen at 5.8%, and will probably slow to 5.5% a year later, the poll of analysts, business people, labor unions and households shows. Average five-year inflation expectations remain unchanged at 5.5%.

The results of the survey influence decision making by the South African Reserve Bank’s monetary policy committee, which prefers to anchor inflation expectations close to the 4.5% midpoint of its target range. In January, it saw consumer-price growth averaging 5.4% in 2023 and Governor Lesetja Kganyago affirmed the central bank’s commitment to inflation targeting and ensuring price stability.

The central bank has delivered 375 basis points of tightening since November 2021, with January’s 25-basis-point move — the smallest increase in five meetings — taking it closer to ending the hiking cycle. The benchmark repurchase rate stands at 7.25%.

Forward-rate agreements used to speculate on borrowing costs show traders are now pricing in a 56% chance of 25 basis-point increase in the key rate on March 30. That’s declined in line with expectations of slower tightening by developing market central banks including the Federal Reserve after the collapse of US lender Silicon Valley Bank and stress in Credit Suisse Group AG.

The inflation expectations survey was conducted Feb. 20 to March 9, after statistics agency data showed growth in food prices increased at the fastest pace in almost 14 years in January. The food inflation outcome surprised the central bank, which is also worried about how persistent power cuts are disrupting the production and storage of the sustenance and pushing up costs, Deputy Governor Rashad Cassim said Tuesday.

RelatedPosts

Otto Addo Expected to Announce Squad for Crucial 2026 World Cup Qualifiers

How Artificial Intelligence Is Both Driving and Derailing Decarbonization

Ghana Revenue Authority Targets Retrieval of GHS 163m in Unpaid Taxes and VAT Arrears

The Reserve Bank sees electricity rationing, known locally as loadshedding, shaving 2 percentage points off economic growth this year. It faces the difficult task of balancing risks to the growth and inflation outlooks, including a weak currency and rising health-insurance costs, when voting on interest rates at the end of the month.

Tags: inflationPolicy rate decisionSouth African firmsSouth African firms see inflation quickening before rate decision
No Result
View All Result

Highlights

Nurturing Dreams: Ghana’s Football Future Blossoms with Talent Identification Initiative

Champion of Champions: Gold Stars set for Showdown Against Asante Kotoko in Bibiani

President Mahama Secures Infrastructure, Technology, and Agriculture Deals on Japan Visit

Mida Pledges Alignment With US Strategic Shift On Millennium Challenge Corporation

Standard Chartered Empowers Future Leaders Through Financial Literacy and Mentorship

Nigeria Exiting Years of Economic Doldrum But Hard Road Ahead Still

Trending

Features

Otto Addo Expected to Announce Squad for Crucial 2026 World Cup Qualifiers

August 25, 2025

Otto Addo Expected to Announce Squad for Crucial 2026 World Cup Qualifiers As anticipation builds for the...

How Artificial Intelligence Is Both Driving and Derailing Decarbonization

August 25, 2025

Ghana Revenue Authority Targets Retrieval of GHS 163m in Unpaid Taxes and VAT Arrears

August 25, 2025

Nurturing Dreams: Ghana’s Football Future Blossoms with Talent Identification Initiative

August 25, 2025

Champion of Champions: Gold Stars set for Showdown Against Asante Kotoko in Bibiani

August 25, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.