Sarb pauses rate rises in split decision
MPC votes 3–2 to hold rates at 8.25% after inflation falls within target range
A majority of the South African Reserve Bank’s (Sarb) monetary policy committee voted to hold its key rate on July 20, after headline inflation fell.
Three MPC members voted to hold the rate at 8.25%, while two backed a 25 basis point increase. The decision follows 10 consecutive increases for a total of 450bp, starting in November 2021 and ending with a 50bp rise on May 25.
The MPC acted after year-on-year headline inflation dropped to 5.4% in June. This was the first time since April 2022 it
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