South Africa Rate Moves Will Be Highly Data-Dependent, SARB Says

South Africa’s central bank reiterated its mandate is achieving price stability and said any interest-rate increases will be dependent on forthcoming data.

Inflation faces upside risks from a weak rand and rising food and energy costs, the Reserve Bank said in its annual report released on Monday in the capital, Pretoria. The pause in the rate-tightening cycle since July is likely to be temporary, the bank said.