SA’s financial market gurus are warning that consumers should brace themselves for higher interest rates this year amid accelerating global inflation, which could put pressure on local prices thanks to a rand that may slide to R17/$ by year-end.

With US inflation having hit an almost 40-year high of 7% in December, banks including Goldman Sachs and Morgan Stanley are predicting at least four 25-basis-point rate hikes in the US in 2022. Analysts say that will pile pressure on the SA Reserve Bank to lift its rates to preserve the yield advantage of rand-denominated assets...

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