25 Nov 2011INFLATION is at the ceiling of the Reserve Bank’s 3%-6% target range, and is expected to rise beyond that in the months to come.
That puts paid to my hopes that the Bank’s governor, Gill Marcus, and her team may start looking at the idea of cutting interest rates to boost our ailing economy, and most importantly reducing my mortgage payments. Driving the rise in prices — in the main — have been higher food and fuel costs, coupled with a rand exchange rate that has weakened close to 30% against the dollar this year on growing risk aversion caused by Europe’s calamitous handling of its sovereign debt crisis.
http://www.businessday.co.za/articles/Content.aspx?id=159529
