MONETARY POLICY
Why the Reserve Bank still leans towards raising rates again
Deputy governor Rashad Cassim flags weak rand and rising increases in collective bargaining as well as strikes
07 September 2022 - 20:13
UPDATED 07 September 2022 - 23:21
The weak rand, an acceleration in negotiated pay increases and the rise in strikes for higher wages remain a great concern for the Reserve Bank, deputy governor Rashad Cassim said two weeks before the monetary policy committee (MPC) meeting on interest rates.
Cassim said there is still room for the Bank to increase rates, with a repo rate of 5.5% now, despite low growth because it “still clearly has a negative real policy rate”...
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