South Africa’s benchmark interest rate will need to rise to curb an inflation rate that’s “uncomfortably high,” Reserve Bank Deputy Governor Daniel Mminele said.
South Africa’s central bank hasn’t ruled out taking “reasonable and responsible” action to curb the rand’s gains in a way that’s consistent with its inflation target, Deputy Governor Daniel Mminele said.
South Africa will consider increasing interest rates even as Africa’s second-largest economy risks falling into recession, Reserve Bank Deputy Governor Daniel Mminele said.
"There is a lot of uncertainty around the sustainability of the decline in oil prices, while the exchange rate also continues to pose upside risks to the inflation outlook."
- Daniel Mminele on Dec 01, 2014