The Monetary Policy Committee has kept the repo rate steady at 5,5 per cent since November 2010. While the risks to the inflation outlook are tilted to the upside, they are predominantly of a cost-push nature, but need to be monitored very closely for any second round effects. 6.
Conclusion  In summary, the past year has brought some recovery in global economic activity, although the momentum has slowed somewhat. There are still many risks on the horizon, and South Africa is subject to the same risks facing the global economy.