Sarb raises rates for first time in 17 months
MPC splits three to two on vote to increase rates
The South African Reserve Bank’s monetary policy committee voted by three to two to raise its policy rate by 25 basis points today (November 18).
The MPC cited “the expected trajectory for headline inflation and upside risk” as its reason for raising the rate to 3.75%. The two dissenting MPC members wanted to keep the rate unchanged.
The Sarb had maintained its policy rate at 3.5% since June 2020, after lowering it from 6.5% in a series of cuts starting last year.
The MPC consists of the
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@centralbanking.com
More on Monetary policy decisions
Fed makes post-presidential election rate cut
Chair Powell stresses Trump’s election will have no effect on near-term policy; has no plans to resign
BoJ holds policy rate
Central bank highlights need to monitor US economic developments and domestic data
BoE keeps policy rate and pace of QT unchanged
Policy-makers back “gradual approach” to lowering interest rates
Banxico cuts rates by 25bp in split decision
MPC says core inflation has been gradually falling, despite rise in headline figure
Uzbekistan reduces policy rate by 50bp
Central bank delivers first cut since May 2023
Bank Indonesia holds policy rate
Central bank is focused on rupiah stability and attracting foreign capital in the short term
Malaysian central bank holds policy rate
BNM expects higher inflation later this year as government phases out fuel subsidies
Bank of Korea holds rate but signals possibility of future easing
Governor Rhee Chang-yong says the board can consider rate cut at “appropriate time” in the future