The South African Reserve Bank fired the starting gun on monetary policy normalisation with a 25bp hike in the repo rate, to 3.75%, today amidst growing concerns about inflation risks. But the statement lends support to our view that interest rates will be raised more slowly than investors expect over 2022-23.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.