funny thing. reserve bank website says it starts at 14:00 but will be broadcast "live" at 15:00. didnt know we had timezones in SA now! unless Telkom's has taken over the management of SABC's signal distribution.
"The press conference to announce the decision of the Monetary Policy Committee will be held at 14:00 on Thursday, 12 April 2007. The announcement will also be broadcast live on SABC 3 from 15:00 to 15:30. Should members of the media wish to attend, please contact Thandi Moya on 012 313 3027."
Well looks like I called it wrong. The rate stayed unchanged instead of going up 50 basis points as I predicted should happen. It will be interesting to see what happens in terms of credit extension (money supply expansion) and the inflation rate. I'd say up in both cases. A case of you can't have your cake and eat it.
well ya the MPC also expect inflation to move higher, peakign at 5.9 on CPIx and that's within the band so hence no increase. Also a comemnt made at teh press conference yesterday that without fuel & food inflation CPIx would have been 3.9 rather then 4.9, and those two are not really going to be effected by a rate change. As for PSCE, that is not within the mandate of the MPC.