SARB takes further easing off the table

The South African Reserve Bank (SARB) made it pretty clear at today’s MPC meeting, at which the policy rate was left unchanged at 6.75%, that any additional easing is off the cards. As a result, we have taken the rate cuts that we had previously expected in 2018 out of our profile. That said, policymakers are unlikely to deliver the interest rate hikes that the financial markets are now pricing in.

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