The interest rate is expected by 50 basis points next week according to economist Bonke Dumisa.
JOHANNESBURG - The interest rate is expected by 50 basis points next week.He bases this on the latest inflation data which shows an increase from 6.9 to 7 percent in February.Dumisa says the US Fed hiking rates and a cautious Monetary Policy Committee are not helping matters.
"What is more significant about this is that many of us we saying the CPI was on a downward trend, all of sudden it has gone up to the 7 percent," he said. "We have a very cautious SARB monetary committee and it takes cue from US many times and the US has increase repo rate."
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