South Africa’s central bank is poised to prolong its most aggressive interest-rate hiking cycle in at least two decades on Thursday, underlining its commitment to tame stubbornly high inflation even as the economy flirts with recession. Moneyweb
South Africa’s central bank is poised to prolong its most aggressive interest-rate hiking cycle in at least two decades on Thursday, underlining its commitment to tame stubbornly high inflation even as the economy flirts with recession. The median of 19 estimates in a Bloomberg survey of economists is for a 75-basis point increase, with expectations ranging from 50 to 100 basis points.
An increase of 75 basis points would take the benchmark rate to 7% — a level last seen more than five years ago when the MPC was trying to guide inflation back below the 6% ceiling of its target band. Another upward move will narrow the real interest rate, potentially making local assets more attractive to foreign investors.
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