Reserve Bank springs hawkish surprise
Central bank raises repo rate by 50 basis points, citing concerns about the effect of load-shedding and deterioration of global financial conditions
30 March 2023 - 23:13
The Reserve Bank has surprised the market with a steeper-than-expected 50 basis point rate hike, citing concerns about the effect of load-shedding on prices and of global financial market turmoil on the rand and inflation.
The hike, and the monetary policy committee’s more hawkish rhetoric, prompted the rand to a six-week high of R17.74 against the dollar, the strongest level in six weeks...
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