Inflation in mainland Tanzania is expected to remain within the 3% to 5% target range, supported by stable food supply and exchange rate stability
The announcement comes as the bank foresees lower global interest rates and a weaker outlook for the local economy
Despite the global environment becoming less tense since the March meeting, the central bank will remain cautious, economists say
The central bank has maintained price stability but needs to focus on growth given the high unemployment rate.
The monetary policy committee said it remains vigilant amid risks to inflation outlook on the global and domestic front
With inflationary pressures heightened, the Reserve Bank might take a cautionary approach regarding its interest rate decision on Thursday
This was despite the central bank highlighting upside risks to the inflation outlook
A third consecutive interest rate cut will help stimulate the economy, but the central bank will also be cautious about inflation pressures
What is expected to be the second cut in an interest rate easing cycle would bring relief to consumers ahead of the festive season
This comes as inflation eased to 4.4% in August, below the midpoint of the Reserve Bank’s 3-6% target band
Governor Lesetja Kganyago said the central bank would wait for the inflation rate to fall within its 3% to 6% target before it makes a cut
Consumer inflation remains sticky above the 4.5% midpoint of the central bank’s target range
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Today’s monetary policy committee meeting comes in the wake of a surprise acceleration in South Africa’s annual inflation rate
David Fowkes, who was appointed as an adviser to the governors last December, has worked for the Reserve Bank since 2013
Governor Lesetja Kganyago suggested the central bank will look for the inflation rate to fall within its target before it administers relief This content is restricted to…
Despite ongoing volatility, the monetary policy committee revised its 2023 headline inflation forecast down slightly This content is restricted to registered users and…
Central bank governor Lesetja Kganyago said the job of tackling inflation was not done yet
