South Africa is able to access foreign savings, South African firms have access to global markets, businesses have access to foreign technology and government can raise capital abroad for its investments. This road, however, has not been a smooth one and we have been exposed to a number of external shocks.
Total CPI inflation at the national level should average just above 1 per cent in the first half of this year, returning to the 2 per cent inflation target in early 2008. Core inflation should remain near 2 per cent through to the end of next year. That's a look at our base-case economic projection.