#inflation-control

#inflation-control

War in the Middle East has pushed up energy prices. You can already see that at the petrol pump and, if it lasts, it will feed into higher household energy bills later in the year. Whatever happens, our job is to make sure inflation gets back to its 2% target.

A strong or stable national currency plays a crucial role in fostering economic resilience. By curbing inflation, boosting investor confidence, and reducing the cost of imports, a strong currency can significantly influence a nation's economic landscape. Recent trends in South Africa and the CFA franc zone illustrate how robust currency positions can benefit African countries. In mid-August, the South African Rand saw remarkable strength, reaching a nine-month high of approximately 17.45 per US dollar.

The fall in energy prices has helped to keep a lid on inflation, which has surged in other areas.