Kganyago says rate hiking cycle is likely not over yet
Monetary policy committee pauses repo rate at 8.25%
20 July 2023 - 15:15
UPDATED 20 July 2023 - 22:40
The Reserve Bank kept the door wide open for interest rate hikes in the coming months even as its monetary policy committee (MPC) left borrowing costs unchanged at their highest level in more than a decade after a prolonged tightening cycle that began towards the end of 2021.
Governor Lesetja Kganyago on Thursday said sticky inflation in major economies suggests average interest rates will remain high, resulting in tighter global financial conditions, which often lead to increases in the risk profile of economies needing foreign capital...
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