The South African Reserve Bank starts 2022 where it ended off in 2021 – by hiking interest rates

SOUTH AFRICA - Report 28 Jan 2022 by Iraj Abedian

The South African Reserve Bank’s Monetary Policy Committee (MPC) met this week for its first 2022 meeting and announced its interest rate decision yesterday. In line with the Reuters' poll of economists’ consensus, the Reserve Bank raised the benchmark interest rate by 25 basis points. As such, the repo rate went up from 3.75% to 4% and the prime rate from 7.25% to 7.5%. The decision was based on the Committee's view that risks to the inflation outlook are on the upside, and was reached upon four members of the committee voting for the increase, with only one having voted for an unchanged rate.

Now read on...

Register to sample a report

Register
Sign-in
Forgot your password?
Copyright 2024 GlobalSource Partners. All rights reserved. This report is prepared for GlobalSource Partners’ clients and may not be redistributed, reproduced, stored in a retrieval system, retransmitted or disclosed, in whole or in part, or in any form or manner, without the express written consent of GlobalSource Partners. This report is distributed simultaneously to our website and other portals used by GlobalSource Partners. The information herein was obtained from various sources and is believed to be reliable but GlobalSource Partners does not warrant its completeness or accuracy. Neither GlobalSource Partners nor any Country Analyst, officer or employee accepts any liability whatsoever for any direct, indirect or consequential damages or losses rising from any use of this report or its contents.