State of the economy discussed at Monetary policy forum
The event was attended by members of the business sector, lecturers and other members of the public who were concerned with South Africa's economy.
MBOMBELA – On October 10 the South African Reserve Bank hosted its second monetary policy forum for the year at Emnotweni.
The presentation revealed that South Africa was not at the same pace in terms of inflation rates when compared to the rest of the world.The presentation also highlighted the role which investor confidence and the current political situation plays when analysing the health of the economy.
Food inflation for Mpumalanga had dropped from 12,1 per cent to 6,4 per cent, while the exchange rate had appreciated and import prices had fallen.
The presentation also highlighted the risks which the lower electricity rates might pose for the economy in future.
According to the Reserve Bank’s lead economist for the economic research and statistics department, Steinbach,the uncertainty of the economy would have a negative impact on growth. That said, he made it clear that the reserve bank were still succeeding at keeping core inflation between three and six per cent, as the inflation rate was sitting at 4,8 per cent when it was calculated in August.
After conducting the presentation, the individuals from the Reserve Bank opened the floor for questions from the guests. The evening then ended with a buffet.
