Lesetja Kganyago, Governor of the Reserve Bank and the Monetary Policy Forum (MPF) are in Soweto, discussing roles.
This is a biannual MPF to mark the release of the Monetary Policy Review.
Of interest, are global and domestic developments shaping monetary policy.
Crude oil and gas rose sharply in April, forcing the International Monetary Fund (IMF) to revise the global inflation outlook.
Inflation was decreasing and was projected to average around 4.4% for 2026.
IMF scenarios show an upward trajectory under severe cases.
Speaking at the Forum, Theo de Jager, President of the World Farmers’ Organisation (WAO), said in addition to increased oil and gas prices, those of urea, are of concern, because they are linked to fertiliser, and food.
Goods and service inflation are also higher.
He also said although inflation is at target, a severe scenario, might force rates to rise.
“There are also new risks, including El Niño, and further conflict escalation. Policy makers must remain vigilant and act prudently.”
The public can engage the MPC directly via social media on Wednesday evening at 6pm:
Watch live on YouTube: https://youtube.com/live/isAxzUwxkY4?feature=share X: https://x.com/i/broadcasts/1nxeLykYLWnJX or Facebook: https://www.facebook.com/share/1DoZaiZXzs/