Mboweni predicts interest rate increase

Tito Mboweni, the governor of the Reserve Bank of South Africa, says the central bank is more likely to raise interest rates than reduce them at its policy meeting next week.

South African inflation is now 6.4%, well above the upper limit of the central bank's 3% to 6% target range. It has exceeded the upper limit since April. Speaking on the subject earlier today, Mboweni said: "interest rates are unlikely to come down and it is more likely that they are going to go up."

The central bank li

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