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Frank Blackmore, lead economist at KPMG SA also expects that the repo rate will remain the same as the Sarb said it will depend on the data and the latest data on inflation was the July reading of 4.7%.
Source: https://www.citizen.co.za/business/rise-inflation-expected-no-increase-repo-rate/
Sarb noted the diplomatic fallout resulting from recent comments by US Ambassador Reuben Brigety, led to a sharp sell-off in the South African Rand and its worst-ever level against the US Dollar (USD), which traded at R19.51 on 12 May 2023.
Source: https://www.citizen.co.za/news/neutral-stance-russian-invasion-affecting-sas-financial-stability/
This projection aligns with the SA Reserve Bank’s (Sarb) forecast that estimates growth at 0.4% in 2023 and 1% in 2024.
Source: https://www.citizen.co.za/business/business-confidence-subdued-retail-sales-drop-august-2023/