South Africa's central bank will hold its benchmark interest rate at 8.25% on May 30, the day after the country's general election, before likely beginning an easing cycle next quarter as inflation retreats back to target.
A view shows the logo of South Afr ica's central reserve bank, at the reserve bank offices in Pretoria, South Afr ica, January 26, 2023. REUTERS/Siphiwe Sibeko/File PhotoJOHANNESBURG, May 24 - South Afr ica's central bank will hold its benchmark interest rate at 8.25% on May 30, the day after the country's general election, before likely beginning an easing cycle next quarter as inflation retreats back to target.
Eight of nine economists said the Bank was more likely to cut rates fewer times this year than they expect, rather than more times. Other central banks on the continent are still locked in rate hiking cycles to battle stubborn inflation.
RPOLL APOLL REP CEN ECI ECO GDP INT MCE MMT PLCY SARB ZA AFR SAFR EMEA EMRG ECILT/ZA ECON FIN
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