Reserve Bank stays put on rates but hike expected in November
Kganyago emphasises any policy moves will be data dependent
The SA Reserve Bank (SARB) has maintained its rate holding streak, even as it lays the groundwork for a potential rate hiking cycle that could start as soon as November.
The Bank’s monetary policy committee voted unanimously to keep the benchmark interest rate at a record low of 3.5%, in line with market expectations, with its internal modelling pointing to a round of rate hikes starting in the fourth quarter of this year and running through 2022 and 2023. ..