SARB may hold rates

The recent power shortages may lead to a rethink on rate rises in South Africa.

Razia Khan, the head of research for Africa, at Standard Chartered, a bank said: "We have now changed our SARB view, from a definitive tightening to rates being on hold in January. The energy crisis pulls the rug out from underneath the economy, and its effect is much more immediate than conventional monetary tightening."

Economists at First National Bank and Standard Bank, two South African financial institutions