SA Reserve Bank repeats rate hikes coming but will be gradual
South Africa’s Reserve Bank repeated its warning that it would raise interest rates due to rising inflation and despite a sluggish economic growth outlook but said that rate hikes would be gradual.
“Private-sector forecasts and market indicators are reflecting a more gradual pace of tightening than in previous hiking cycles. Moderate rate hikes are likely to achieve price stability, the Bank’s primary mandate, without unduly sacrificing growth,” it said in its biannual monetary policy review released on Tuesday. -ANA
(File Photo: Gallo Images)