Sarb hikes rate despite split decision on MPC

Lesetja Kganyago
Sarb raises interest rates again to 7%; inflation looks manageable in the long term
Elske Photography

The South African Reserve Bank (Sarb) monetary policy committee (MPC) hiked its policy rate by a further 25 basis points to 7% today (March 17) – but its six members were split on the decision.

“Given the upside risks to the inflation forecast and the protracted period of the expected breach, the MPC decided that further tightening was required,” governor Lesetja Kganyago said in a statement.

Three members of the committee favoured the increase, while three preferred no change. When asked who

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