Buoyant spending and borrowing have not yet been inflationary, and will not necessarily become inflationary, partly because of relatively low global inflation and strong price competition from imports. |
Economic growth will still stay strong ... but the manufacturing sector will not help. |
The rand weakened during February, which is expected to have limited the Bank's accumulation of foreign exchange reserves during the month. |
This will put upward pressure on both month-on-month and year-on-year inflation this month. |