S. Africa May Be Coming to End of Rate-Hike Cycle

The transcript discusses the current state of monetary policy, focusing on whether the rate increase cycle has ended. It distinguishes between inflation expectations and forecasts, noting the impact of political and policy uncertainties on inflation. The discussion clarifies that reaching the end of the rate hiking cycle does not imply the start of a rate cut cycle. The central bank targets inflation, not interest rates, and would consider a rate cut if inflation remains within target despite external shocks.

What is the bank's primary target, and how do interest rates fit into this strategy?

What conditions would lead the bank to consider revisiting its stance on interest rates?