{"id":22525,"date":"2011-07-21T15:38:00","date_gmt":"2011-07-21T19:38:00","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?guid=6d55f672a829e6d396813c781eddfa87"},"modified":"2011-07-21T15:38:00","modified_gmt":"2011-07-21T19:38:00","slug":"south-african-reserve-bank-holds-rate-at-5-50","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2011\/07\/21\/south-african-reserve-bank-holds-rate-at-5-50\/","title":{"rendered":"South African Reserve Bank Holds Rate at 5.50%"},"content":{"rendered":"<p><span class=\"Apple-style-span\" style=\"font-family: Verdana, Geneva, sans-serif; font-size: 12px; line-height: 16px;\">The&nbsp;<a href=\"http:\/\/www.resbank.co.za\/Pages\/default.aspx\" style=\"color: #3778cd; text-decoration: none;\">South African Reserve Bank<\/a>&nbsp;[SARB] held&nbsp;its monetary policy interest rate, the repo rate, unchanged at 5.50%. &nbsp;The Bank said: &#8220;The MPC is not complacent and will remain vigilant and continue to monitor closely any indications of second-round effects on inflation emanating from these cost pressures as well as the changing risk profile of the inflation outlook.&#8221; On inflation the SARB said:&nbsp;&#8220;The view of the MPC continues to be that the underlying inflation pressures are mainly of a cost push nature, notwithstanding signs of a possible moderate increase in underlying inflation.&#8221;<\/span><\/p>\n<div><span class=\"Apple-style-span\" style=\"font-family: Verdana, Geneva, sans-serif; font-size: 12px; line-height: 16px;\"><\/span><br \/><a name='more'><\/a><\/div>\n<div><span class=\"Apple-style-span\" style=\"font-family: Verdana, Geneva, sans-serif; font-size: 12px; line-height: 16px;\">Previously the SARB also held the <a href=\"http:\/\/www.centralbanknews.info\/2011\/05\/south-african-central-bank-holds-rate.html\">repo rate<\/a> unchanged at its May meeting this year, the Bank last cut the repo rate by 50bps to 5.50% in November 2010. &nbsp;South Africa reported annual inflation of 5% in June, up from 4.6% in May, and 4.2% in April this year. &nbsp;The Bank noted &#8220;Food and oil price developments remain the major risks to the inflation outlook.&#8221; &nbsp;The SARB is forecasting inflation to average 6.3% in the first quarter of 2012, compared to its official inflation target range of 3-6%.<\/p>\n<p><a href=\"http:\/\/www.centralbanknews.info\/\" style=\"color: #3778cd; text-decoration: none;\">www.CentralBankNews.info<\/a><\/span><\/div>\n<div class=\"blogger-post-footer\"><img width='1' height='1' src='https:\/\/blogger.googleusercontent.com\/tracker\/8290544642025682538-7304272449431938173?l=www.centralbanknews.info' alt='' \/><\/div>\n","protected":false},"excerpt":{"rendered":"<p>The&nbsp;South African Reserve Bank&nbsp;[SARB] held&nbsp;its monetary policy interest rate, the repo rate, unchanged at 5.50%. &nbsp;The Bank said: &#8220;The MPC is not complacent and will remain vigilant and continue to monitor closely any indications of &#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-22525","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/22525","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=22525"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/22525\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=22525"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=22525"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=22525"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}