# South Africa’s Monetary Policy Committee faces intense pressure ahead of Thursday’s interest rate decision. While consumers desperately hope for a rate cut to ease borrowing costs, stubborn global fuel shocks have driven annual consumer price inflation to four-percent. This sudden spike hits the absolute ceiling of the Reserve Bank’s tight target range. Independent economist John Loos said maintaining the repo rate on 6.75-percent would be the safest approach, as the markets demand price stability.
MPC faces difficult decision on interest rates as inflation pressures increase