An Interest Rate Hike amidst Low Economic Growth and High Macroeconomic Volatility

SOUTH AFRICA - Report 18 Mar 2016 by Iraj Abedian

The South African Reserve Bank’s (SARB) decision to increase the repurchase (repo) rate by 25 basis points at its March 2016 meeting, after having raised it by 50 basis points at its previous (and first) meeting of 2016, did not come as a surprise. Although the South African economy is still under tremendous pressure, inflation pressures have also been on the rise, prompting the SARB to increase interest rates to maintain the country’s financial stability.

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