#BizPrime NUMBER OF THE DAY: 4.6%
76 views · Published 13 December 2017 · 1:42 · Indexed 20 September 2026
Channel: SABC News · 2017 · News & Politics
The number of the day is 4.6%. Which is inflation for November or the rate at which consumer prices in the shops and elsewhere are rising. That's slightly lower than expectations and it's come down from 4.8% in October. And 4.6% is almost slap bang in the middle of the Reserve Bank's targeted range of between 3 and 6%. So it's good news. And - if there wasn't uncertainty that could affect the Rand, especially as far as the ANC leadership is concerned - it suggests that we might have had an interest rate cut for Christmas or the New Year. But right now the Reserve Bank has to bear in mind that the Rand could weaken, which raises the cost of imports, which raises inflation. This helped the Rand today. So did somewhat subdued data coming out of America. That's weighing on the dollar which helped the Rand to rise by more than a percent. It comes before a crucial interest rate decision in the US. Rates are expected to rise our time tonight. For more news, visit: http://www.sabc.co.za/news
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