The South African Reserve Bank starts policy normalization

SOUTH AFRICA - Report 18 Nov 2021 by Iraj Abedian

As we had anticipated, the South African Reserve Bank’s (SARB) Monetary Policy Committee (MPC) voted to increase the benchmark interest rate by 25 basis points from 3.5% to 3.75% during its final scheduled meeting of the year. As a result, the prime lending rate also increased from 7% to 7.25%. Prior to this, the last time the MPC had made an upward adjustment to the repo rate was in March 2016. The rise came amid the country’s rising overall risks to inflation.

Now read on...

Register to sample a report