South Africa raises interest rates

SOUTH AFRICA - South Africa's Reserve Bank has raised interest rates by one percentage point to 11.5% to counter the inflationary impact of the rand's steep slide last year.

"The monetary policy committee is of the opinion that a more restrictive monetary policy stance is required," Central Bank governor Tito Mboweni said.

Expectations that inflation will continue to rise along with wages prompted the rise.

The negative impact of higher rates on the country's growth rate would be offset by th

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: