Allan Gray sees rates, inflation ‘higher and stickier’ for longer
Asset manager says futures market is pricing in two more 25 basis point rate hikes with chances of more beyond that
04 May 2023 - 05:00
Allan Gray, the asset manager that oversees the largest chunk of private capital in SA, says interest rates and inflation are likely to stay higher and stickier for longer than most people expect.
Though forward rate agreements, a type of money market futures contract used as a bellwether for future interest rate movements, are predicting at least two more 25-basis point rate hikes in the next six months, most analysts believe the rate hiking cycle has either peaked or is close to topping out...
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