Reserve Bank’s lighter touch signals interest rates are near peak
2023 started with high inflation, while weak economic growth continues to shape global conditions
26 January 2023 - 15:22
UPDATED 26 January 2023 - 23:00
The Reserve Bank increased borrowing costs at a slower pace on Thursday, suggesting SA interest rates are getting close to a peak and the Bank is confident consumer inflation will go back to the midpoint of the target range in the short term.
On the last day of its three-day meeting, the Bank’s monetary policy committee (MPC) lifted the repo rate by 25 basis points (bps) to 7.25%. That was in line with eight economists surveyed by Reuters, while 11 expected a 50 bps hike...
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