South Africa hikes rate as inflation outlook deteriorates

lesetja-kganyago
Lesetja Kganyago

The South African Reserve Bank (Sarb) raised its key policy rate by 25 basis points to 6% today (July 23), although the monetary policy committee was divided – two of the six members voted against the hike.

It is a year since the Sarb last increased rates. The central bank had announced a "pause" in the tightening cycle in January after oil prices fell sharply, but has grown steadily more concerned about the inflation outlook in the months since.

Annual CPI inflation rose to 4.7% in June, and go

To continue reading...

You must be signed in to use this feature.

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: