The SARB Puts the Interest Rate Hike on Hold

SOUTH AFRICA - Report 19 May 2016 by Iraj Abedian

Just as we had predicted, the South African Reserve Bank’s (SARB) Monetary Policy committee (MPC) paused its hiking of the baseline interest rate at its May 2016 meeting, which was also its third meeting in the current year. This was the first time the SARB did not raise the repurchase (repo) rate since its November 2015 meeting, at which it raised the repo rate amid fears of inflation pressures that have indeed materialized.

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