There are a number of worrying pressure points and serious imbalances in the South African economy, the South African Reserve Bank (SARB) has said in its latest Quarterly Bulletin, released on Thursday.

According to the central bank, with food prices on the rise, and with the rand deteriorating dramatically in the past few weeks, an acceleration in inflation is on the cards.

The SARB has already voiced its inflationary concerns, hiking the repo rate by 50 basis points to 7.5 percent earlier in June.

The rand, meanwhile, has tanked against the major currencies, slumping to 7.41 against the dollar earlier on Thursday.

The Quarterly Bulletin also noted that there appeared to be a changing sentiment towards emerging markets in general, which has further exacerbated currencies of emerging markets.

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