Modest growth outlook emphasises urgency of growth-orientated policies and projects
As was expected, the Monetary Policy Committee (MPC) unanimously decided at a fourth consecutive meeting on 25 January (its first meeting of 2024) to again keep interest rates unchanged and therefore higher for longer.
Prof Raymond Parsons, economist from the North-West University (NWU) Business School, says the tone of the MPC’s statement remained highly cautious, as it did not see the battle against inflation as yet having been permanently won.