South Africa’s consumer inflation rate may surge to about 7% by the end of the year, and the repo rate – the rate at which the Reserve Bank lends money to commercial banks – might increase by up to a percentage point, excluding the 50 basis point increase in January.
This was according to economists interviewed by Farmer’s Weekly. Vuledzani Patience Ndou, a senior economist with economist.co.za, expected the inflation rate to jump out of the Reserve Bank’s target range of 3% to 6% and “therefore decisions like increasing the interest rate have to be taken to bring down inflation and also try to strengthen the rand,” she said.
Laura Campbell, an economist at Econometrix concurred with Ndou. “Under such circumstances, the Reserve Bank is likely to increase interest rates a little further over the short term, despite evidence of fairly soft real economic activity.”
Farmers are often unfairly targeted for societal and environmental ills. It’s time to fight back.
The South African stone fruit industry is forecasting improved volumes for the 2019/2020 season compared with last year.
Springfield Farm has invested in learnerships for its workers, has an open-door policy for agriculture students, and offers mentorships to…
Extreme drought conditions have reportedly claimed the lives of more than 60 000 head of livestock in Namibia so far…