Sarb raises rates 25 basis points as inflation rises
MPC votes by four to one for hike, as inflation nears top of target range
The South African Reserve Bank’s monetary policy committee ordered a 25 basis point increase in its benchmark rate, by a four-to-one vote on January 27.
The increase is the second consecutive 25bp hike, following an upward move in November, bringing the benchmark policy rate to 4% from January 28. Four of the MPC’s five members voted for a hike and supported no change.
South Africa’s inflation remains within the Sarb’s target band of 3% to 6%, but only barely. Year-on-year inflation reached 5
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