AS THIS issue went to press, the fifth Monetary Policy Committee meeting of the year was due to convene over a decision on the repo rate. There are two reasons for the inevitability of a hike, according to FNB chief economist Cees Bruggemans: deteriorating inflation dynamics and continued concern, on the part of the committee, over domestic economic imbalances. “Almost every inflation-related statistic released since the August MPC meeting has been negative,” says Bruggemans.
