Inflation Forecast Revised Upwards; Higher Interest Rates Seen for Next Year

Inflation forecast has been raised to 1.8 percent instead of 1.7 percent this year; three percent instead of 2.9 percent for next year; and 2.9 percent instead of 2.6 percent for 2018. This was due to higher inflation for September and October, increased oil prices, and the weakening of the local currency. These, along with  expected increased infrastructure spending, may lead to a tightening of policy tools and an increase in interest rates by the…

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