{"id":7193,"date":"2012-01-19T20:55:43","date_gmt":"2012-01-19T18:55:43","guid":{"rendered":"http:\/\/www.myza.co.za\/01\/update-2-s-african-rates-steady-next-move-likely-up\/"},"modified":"2012-01-19T20:55:43","modified_gmt":"2012-01-19T18:55:43","slug":"update-2-s-african-rates-steady-next-move-likely-up","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/update-2-s-african-rates-steady-next-move-likely-up\/","title":{"rendered":"UPDATE 2-S.African rates steady, next move likely up"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* CPI forecasts up on cost-push pressures<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* Bonds weaken, MPC did not discuss rate cut<\/p>\n<p><span><\/span><\/p>\n<p>* Bank cuts growth forecasts<\/p>\n<p><span><\/span><\/p>\n<p>* Consensus is that next rate move will be up<\/p>\n<p> (Changes dateline, adds quotes, analysis)<\/p>\n<p><span><\/span><\/p>\n<p>By Phumza Macanda<\/p>\n<p><span><\/span><\/p>\n<p>JOHANNESBURG, Jan 19 (Reuters) &#8211; South Africa&#8217;s<br \/>\nReserve Bank left its repo rate unchanged at 5.5 percent on<br \/>\nThursday as expected, with concerns about a slowing economy<br \/>\noff-setting the pressures from inflation, which is likely to<br \/>\nstay outside its target band for longer than previously<br \/>\nexpected.<\/p>\n<p><span><\/span><\/p>\n<p>At its first policy meeting of 2012, the bank raised its<br \/>\ninflation forecast, saying it expected inflation to be outside<br \/>\nits 3-6 percent target range throughout 2012, with the recent<br \/>\ndepreciation of the rand the main reason.<\/p>\n<p><span><\/span><\/p>\n<p>Government bonds weakened after that, with investors worried<br \/>\ninflation would eat into their returns. Governor Gill Marcus<br \/>\nsaid the bank did not discuss reducing interest rates, a hint<br \/>\nthat monetary loosening might off that table.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;It seemed as though there was a little bit more of a<br \/>\nhawkish undertone to the message. Obviously, the Reserve Bank is<br \/>\na little bit uncomfortable with the inflation being above the<br \/>\ntarget zone,&#8221; said Dennis Dykes, chief economist at Nedbank.<br \/>\n\u00a0 <span class=\"label\"><strong>Continued&#8230;<\/strong><\/span><\/p>\n<p><span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>* CPI forecasts up on cost-push pressures * Bonds weaken, MPC did not discuss rate cut * Bank cuts growth forecasts * Consensus is that next rate move will be up (Changes dateline, adds quotes, analysis) By Phumza Macanda JOHANNESBURG, Jan 19 (Reuters) &#8211; South Africa&#8217;s Reserve Bank left its repo rate unchanged at 5.5 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-7193","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/7193","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=7193"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/7193\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=7193"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=7193"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=7193"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}