Reserve Bank raises repo rate to 7% as inflation pressures intensify [SOUND]

# The South African Reserve Bank has increased the repo rate by 25 basis points to seven-percent due to rising inflation risks. Rising global oil prices, ongoing geopolitical tensions and recent flooding have weakened the country’s economic outlook and pushed inflation higher. Governor Lesetja Kganyago says inflation rose to four-percent in April, driven mainly by fuel and transport costs, while growth forecasts for the next two years have been revised down: