South Africa: in March 2019 the South African Reserve Bank expected the policy rate of 6.9% for 2020; the outcome was 3.5%
Forecasts of 35 releases (2017–2024) for the next year: the outcome above the forecast 16 times, below 19; typical error −0.28 percentage points. The largest under-forecast in January 2022: 5.8% expected for 2023, the outcome was 8.2%. The largest over-forecast in March 2019: 6.9% expected for 2020, the outcome was 3.5%.
Source: Central banks: published forecasts; actual: official statisticsOpen on the chart →