South Africa bids to cool economy with 50bp rise

The South African Reserve Bank looked to dampen rampant inflation by hiking rates by half a percentage point for the third time since July.

The rise ratchets lending costs to 11%.

Tito Mboweni, the governor of the Reserve Bank, said inflation was set to worsen from previous central bank forecasts, but would fall below the 6% upper limit of the central bank's target range late next year.

"Food and energy prices have maintained pressure on inflation and these pressures are expected to persist i

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: