South African Central Bank Wary of Second-Round Inflation
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South Africa’s central bank said it has seen no evidence that higher fuel and food prices are translating into more generalized inflation.
“We haven’t see the second-round effects,” Monde Mnyande, the bank’s chief economist, said today in an address at an event hosted by the University of Stellenbosch’s Institute for Futures Research in Cape Town. “We are monitoring those very closely and we will definitely act as soon as we start to see them.”