In a poll by Reuters last week, all 25 of economists surveyed see the Monetary Policy Committee (MPC) of South Africa's Reserve Bank (SARB) keeping its repo rate unchanged for a fifth straight meeting at a record low 3.5% next week.
"These risks, should they materialise, could drive headline above the 4.5% target midpoint and possibly dislodge inflation expectations away from the midpoint," the bank said in its bi-annual Monetary Policy Review (MPR).
The South African Reserve Bank (SARB) targets consumer price inflation of between 3% and 6%, and the rate stood at 2.9% in February.