Reserve Bank deputy governor Kuben Naidoo warned on Thursday of “two big risks” that could put its monetary policy committee (MPC) off ending the interest rate hiking cycle.

The two risks are heightened load-shedding affecting the inflation outlook and the rand, which has plummeted to levels last seen at the height of the pandemic in April 2020. On Thursday, it broke through R19/$ for the first time since April 2020. By midday it was trading at R20.77/€ and R23.91/£...

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