South Africa’s Reserve Bank is anticipated to keep interest rates unchanged, according to economist… SARB
Finance Minister Enoch Godongwana addressing media briefing.
Bishop says recent attempts by some members of the African National Congress to pressure the bank into halting rate hikes have been labeled opportunistic, as markets have already predicted the end of the rate hiking cycle. He also reaffirmed the bank’s independence, emphasising the importance of allowing the bank to make monetary policy decisions without external influence.Her forecasts indicate that the Reserve Bank is unlikely to hike interest rates this year or the following year. Bishop believes the bank has reached the end of its rate-hiking cycle, with the current interest rate being the highest it will go in South Africa. “That’s the market consensus as well, a fairly wide-held view,” she adds.
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