The SAReserveBank is expected to fully unwind its extraordinary pandemic-era stimulus measures when it raises interestrates on Thursday. Moneyweb Economy
South Africa’s central bank is expected to fully unwind its extraordinary pandemic-era stimulus measures when it raises interest rates on Thursday. All economists in a Bloomberg survey expect the five-member monetary policy committee to lift the repurchase rate to 6.25%, from 5.5%. The vote-split prediction leans toward four panelists backing a three-quarter point hike and one for a full percentage point move.
5% midpoint of its target range — sharp rate increases by the likes of the US Federal Reserve and Bank of England risk eroding the differential that makes local assets attractive to foreign investors. South Africa’s decision will be announced during a virtual televised briefing that starts at 3 p.m. in Pretoria, the capital. Governor Lesetja Kganyago will also give the voting breakdown and updates of the central bank’s economic forecasts, including for inflation, rates and economic growth.
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