Fed’s big rate hike could help tame SA inflation
Prices of imported goods are likely to decline as central banks around the world get tough on inflation, offering stretched South African consumers some hope
19 June 2022 - 09:50
While fears abound that the US Federal Reserve’s big rate hike this week could herald a recession for the world’s biggest economy and spill over to the rest of the globe, it could also bring some relief to SA’s inflation-battered consumers.
Reserve Bank chief economist Christopher Loewald said on Friday that while it’s too early to quantify the global or local impact of the Fed’s 75 basis-point hike in its benchmark rate this week, on “balance it is good” as the increase would help to lower global inflation...
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