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The Citizen reports that consumer inflation increased again in September to 3.4% from 3.3% in August, with economists reckoning that this makes another repo rate cut in November unlikely.
Jee-A van der Linde, senior economist at Oxford Economics Africa, commented that the uptick in headline inflation aligned with their overall outlook for SA, with inflation forecast to average around 3.3% this year. “Although the upward trend is expected to intensify modestly in the fourth quarter of 2025, headline inflation is projected to peak at just over 4% in mid-2026. The overall inflation outlook remains benign, supported by a stronger rand exchange rate and favourable international oil prices”, he indicated. But, Jee-A van der Linde went on to state: “Even so, we believe monetary authorities will extend a rate-cutting pause until 2027.” Sanisha Packirisamy, chief economist at Momentum Investments, indicated: “We expect the Sarb to keep the repo rate unchanged at 7% in November, with softer quarterly inflation outcomes slightly increasing the odds of a 25-basis-point cut.”
- Read the full original of the report in the above regard by Ina Opperman at The Citizen
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