Rand gains the most in two months as Reserve Bank surprises with 50 bps hike
Major central banks including the US Fed, ECB and Bank of England have all upped rates in the past couple of weeks
30 March 2023 - 15:21
UPDATED 30 March 2023 - 15:43
The Reserve Bank has increased borrowing costs by more than expected, with a 50 basis-points rise after February consumer inflation came in higher than forecast.
Thursday’s move takes the repo rate to 7.75%, bringing the cumulative increase to 425 bps since it was slashed to 3.5% during the early part of the Covid-19 pandemic in 2020...
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