HIGHLIGHTS-South African central bank comments on rate decision

PRETORIA, Nov 22 (Reuters) – Below are comments from South African Reserve Bank (SARB) Governor Lesetja Kganyago on Thursday as he announced the central bank’s latest decision on its benchmark repo rate.


“Since the previous meeting of the Monetary Policy Committee (MPC), the near-term inflation outlook has improved, however, the longer term risks to inflation outlook remain elevated.

“The weaker exchange rate and the impact of higher oil prices have contributed to inflation since March 2018.

“The Bank’s measure of core inflation, which excludes food, fuel and electricity was 4.2 percent in October. Producer price inflation for final manufactured goods slowed to 6.2 percent in September from 6.3 percent in August.

“While remaining within the inflation target range…

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