The South African Reserve Bank maintains momentum as it raises interest rates by a third consecutive 75 bps

SOUTH AFRICA - Report 25 Nov 2022 by Iraj Abedian

The South African Reserve Bank’s (SARB) Monetary Policy Committee (MPC) voted to increase the benchmark interest rate by a further 75 basis points, from 6.25% to 7%, during its final meeting of the year. As a result, the prime lending rate also increased from 9.75% to 10.5%. In this report we discuss some of the factors influencing the decision.

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