Reserve Bank’s wary tone prepares SA for bigger rate hikes
Policy tightens for third time, while two out of five MPC members want rise of 50 basis points
24 March 2022 - 15:15
UPDATED 24 March 2022 - 23:04
The Reserve Bank has paved the way for an acceleration in the pace of interest rate hikes as early as May after it tightened policy for a third consecutive meeting.
In a statement after the Bank lifted the repo rate by 25 basis points, governor Lesetja Kganyago said two monetary policy committee (MPC) members voted for a more aggressive stance as policymakers seek to prevent fuel and oil price shocks resulting from Russia’s invasion of Ukraine from entrenching higher inflation expectations...
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