{"id":9202,"date":"2012-03-22T15:24:49","date_gmt":"2012-03-22T13:24:49","guid":{"rendered":"http:\/\/www.myza.co.za\/03\/update-1-safrica-cpi-slows-less-pressure-for-higher-rates\/"},"modified":"2012-03-22T15:24:49","modified_gmt":"2012-03-22T13:24:49","slug":"update-1-safrica-cpi-slows-less-pressure-for-higher-rates","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/update-1-safrica-cpi-slows-less-pressure-for-higher-rates\/","title":{"rendered":"UPDATE 1-SAfrica CPI slows, less pressure for higher rates"},"content":{"rendered":"

\t\t<\/span><\/p>\n

* Inflation surprises on downside, could ease into target
\nsoon<\/span><\/p>\n

<\/span><\/p>\n

* Bonds firmer after data, rand weakens<\/p>\n

(Adds comment, market reaction, background)<\/p>\n

<\/span><\/p>\n

JOHANNESBURG, March 22<\/span> (Reuters) – South Africa’s targeted
\nconsumer inflation slowed unexpectedly in February, data showed
\non Thursday, suggesting price pressures that have pushed it
\nabove the Reserve Bank’s target are ebbing and giving the bank
\nleeway to keep interest rates on hold.<\/p>\n

<\/span><\/p>\n

Inflation breached the central bank’s 3-6 percent target in
\nNovember and has been above the band since then.<\/p>\n

<\/span><\/p>\n

But CPI braked to 6.1 percent year-on-year in February from
\n6.3 percent in January, Statistics South Africa said. On a
\nmonth-on-month basis, inflation was at 0.6 percent, unchanged
\nfrom January.<\/p>\n

<\/span><\/p>\n

Economist surveyed by Reuters had expected CPI to edge up to
\n6.4 percent year-on-year and to 0.8 percent on a month-on-month
\nbasis.<\/p>\n

<\/span><\/p>\n

“Markets will be encouraged by the drift closer towards the
\nupper end of the 3-6 percent inflation target,” said Razia Khan,
\nHead of Africa Research at Standard Chartered.<\/p>\n

<\/span><\/p>\n

“The immediate market reaction is likely to be that this
\nallows the SARB to keep interest rates on hold a while longer,
\ndespite the more hawkish comments we’ve had from Governor Marcus
\nrecently.”<\/p>\n

<\/span><\/p>\n

Inflation pressures are now likely becoming more
\ngeneralised, reflecting demand-side pressure rather than only
\nexternal factors, Marcus warned earlier this month, in what the
\nmarket took as a signal of eventual monetary tightening.
\n\u00a0 Continued…<\/strong><\/span><\/p>\n

<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

* Inflation surprises on downside, could ease into target soon * Bonds firmer after data, rand weakens (Adds comment, market reaction, background) JOHANNESBURG, March 22 (Reuters) – South Africa’s targeted consumer inflation slowed unexpectedly in February, data showed on Thursday, suggesting price pressures that have pushed it above the Reserve Bank’s target are ebbing and […]<\/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-9202","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\/9202","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=9202"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/9202\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=9202"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=9202"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=9202"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}