The Reserve Bank could hike interest rates as early as September, according to BNP Paribas SA, a move that will strike a further blow to consumers who are already hobbled by the fallout of the Covid-19 pandemic and recent violent protests.

Senior economist at BNP Paribas SA Jeff Schultz expects the Bank to increase rates by 25 basis points in September and November, respectively, citing the effect of higher international oil and food prices on the inflation outlook...

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