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SARB keeps eyes firmly focussed on inflation

The South African Reserve Bank (SARB) hiked interest rates by 50bp, to 8.25%, today on the back of policymakers’ growing concerns about the inflationary impact of persistent power cuts. For now, we think that today’s move marks the end of the tightening cycle and that there will be a turn to rate cuts before the end of this year. But the risks are tiled towards rates staying higher for longer.

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