{"id":45967,"date":"2023-03-20T12:08:06","date_gmt":"2023-03-20T12:08:06","guid":{"rendered":"https:\/\/www.africa-press.net\/south-africa\/all-news\/reserve-bank-expected-to-hike-rates-again"},"modified":"2023-03-20T12:24:05","modified_gmt":"2023-03-20T12:24:05","slug":"reserve-bank-expected-to-hike-rates-again","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/south-africa\/all-news\/reserve-bank-expected-to-hike-rates-again","title":{"rendered":"Reserve Bank expected to hike rates again"},"content":{"rendered":"

Africa-Press – South-Africa. <\/strong><\/span>South Africa, along with Nigeria, Egypt, Morocco and Kenya are projected to raise borrowing costs in the next two weeks. Monetary authorities in nations such as Ghana and Angola, where inflation is on a downswing are predicted to hold.<\/p>\n

The South African Reserve Bank\u2019s (SARB’s) fight against inflation is however unlikely to be derailed by weakness in the global banking system.<\/p>\n

Policymakers nearing the end of the interest-rate hiking cycle, will probably raise the benchmark by 25 basis points to address potential risks to the inflation outlook, said Sanisha Packirisamy, an economist at Momentum Investments. They include the knock on effects of a weaker currency, with the rand having weakened about 7% against the dollar this year.<\/p>\n

Average inflation expectations for the year stand at 6.3%, well above the central bank\u2019s 4.5% target.<\/p>\n

While traders have pared bets for a quarter-point increase, that\u2019s largely in line with expectations of less tightening by the Fed after the collapse of SVB. South Africa\u2019s Monetary Policy Committee (MPC) may take direction from the European Central Bank (ECB), which delivered a 50 basis-point hike last week. The ECB “made a loud statement to markets to suggest that fighting inflation is their top priority but they stand ready to support the financial sector if needed through financial stability tools,” Packirisamy said.<\/p>\n

For More News And Analysis About South-Africa<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – South-Africa. South Africa, along with Nigeria, Egypt, Morocco and Kenya are projected to raise borrowing costs in the next two weeks. Monetary authorities in nations such as Ghana and Angola, where inflation is on a downswing are predicted to hold. The South African Reserve Bank\u2019s (SARB’s) fight against inflation is however unlikely to […]<\/p>\n","protected":false},"author":84,"featured_media":45966,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[274,315,1743,4827,1015,4826,1976,608,2737,275],"class_list":["post-45967","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-south-africa","tag-banking","tag-central-banks","tag-inflation","tag-monetary-policy-committee","tag-mpc","tag-sarb","tag-south-african-reserve-bank","tag-south-africa-2"],"yoast_head":"\nReserve Bank expected to hike rates again - South Africa<\/title>\n<meta name=\"description\" content=\"South Africa, along with Nigeria, Egypt, Morocco and Kenya are projected to raise borrowing costs in the next two weeks. ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/south-africa\/all-news\/reserve-bank-expected-to-hike-rates-again\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Reserve Bank expected to hike rates again\" \/>\n<meta property=\"og:description\" content=\"South Africa, along with Nigeria, Egypt, Morocco and Kenya are projected to raise borrowing costs in the next two weeks. ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/south-africa\/all-news\/reserve-bank-expected-to-hike-rates-again\" \/>\n<meta property=\"og:site_name\" content=\"South Africa\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-03-20T12:08:06+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-03-20T12:24:05+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2023\/03\/postQueueImg_1679301492.63.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"664\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/reserve-bank-expected-to-hike-rates-again#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/reserve-bank-expected-to-hike-rates-again\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Reserve Bank expected to hike rates again\",\"datePublished\":\"2023-03-20T12:08:06+00:00\",\"dateModified\":\"2023-03-20T12:24:05+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/reserve-bank-expected-to-hike-rates-again\"},\"wordCount\":235,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/reserve-bank-expected-to-hike-rates-again#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2023\/03\/postQueueImg_1679301492.63.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-South-Africa\",\"banking\",\"central banks\",\"inflation\",\"monetary policy committee\",\"mpc\",\"sarb\",\"south african reserve bank\",\"South-Africa\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/south-africa\/all-news\/reserve-bank-expected-to-hike-rates-again#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/reserve-bank-expected-to-hike-rates-again\",\"url\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/reserve-bank-expected-to-hike-rates-again\",\"name\":\"Reserve Bank expected to hike rates again - 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