{"id":56832,"date":"2023-11-20T15:55:42","date_gmt":"2023-11-20T15:55:42","guid":{"rendered":"https:\/\/www.africa-press.net\/south-africa\/all-news\/high-hopes-for-reserve-bank-interest-rate-decision"},"modified":"2023-11-20T17:46:54","modified_gmt":"2023-11-20T17:46:54","slug":"high-hopes-for-reserve-bank-interest-rate-decision","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/south-africa\/all-news\/high-hopes-for-reserve-bank-interest-rate-decision","title":{"rendered":"High hopes for Reserve Bank interest rate decision"},"content":{"rendered":"

Africa-Press – South-Africa. <\/strong><\/span>The Bureau for Economic Research (BER) said it now expects the South African Reserve Bank (SARB) to keep the policy rate unchanged at its upcoming meeting after initially expecting another rate hike.<\/p>\n

The SARB\u2019s Monetary Policy Committee (MPC) is set to meet on Thursday, 23 November, where they will decide whether to hike the repo rate again or keep it steady for the third consecutive meeting.<\/p>\n

The current hiking cycle has been ongoing for two years and has seen the MPC hike the repo rate by 425 cumulative basis points. This has brought the repo rate to 8.25% \u2013 the highest it has been in over a decade.<\/p>\n

At its last two meetings, the MPC paused the hiking cycle, as inflation had fallen and was within the 3% to 6% target range. However, headline inflation has steadily increased again, jumping to 5.4% in September, although it is still within the target.<\/p>\n

This has sparked fears that the MPC would vote to hike the repo rate again to temper inflation. Initially, the BER pencilled in a final 25 basis points hike in the repo rate. However, it now expects the SARB to keep the policy rate unchanged at the November meeting.<\/p>\n

\u201cThe main reason for the change is that some of the upside risks to inflation, particularly from the rand and oil price, have receded,\u201d the BER explained.<\/p>\n

\u201cWhile the slowdown in CPI inflation was interrupted, and we expect a further reacceleration in headline CPI in October to 5.8% year-on-year, a general moderation in price increases is expected to take hold from the second quarter of 2024.<\/p>\n

The BER expects CPI to reach the midpoint of the SARB\u2019s target by around Q4 next year. In addition, while the rand exchange rate weakened through late September and early October, it has since recovered these losses. It is now trading on a stronger footing to the dollar compared to the September meeting.<\/p>\n

Another important reason for the BER\u2019s revision is that the Brent crude oil price has come down by around $10\/barrel since the most recent meeting. \u201cWe are also likely at the peak of the global interest rate hiking cycle,\u201d the BER said.<\/p>\n

However, it warned that the SARB would likely signal that it remains ready to hike the policy interest rate further should data point to a reacceleration in price pressure, with upside risks from food prices top of mind.<\/p>\n

\u201cFurthermore, the bank is likely to keep a keen eye on inflation expectations to see whether these start to drift back to the midpoint of the target band.\u201d<\/p>\n

\u201cAs such, while no longer our view as stated earlier, a November hike remains possible. Importantly, hike or no hike this week, the SARB will likely keep the repo rate restrictive well into next year.\u201d<\/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. The Bureau for Economic Research (BER) said it now expects the South African Reserve Bank (SARB) to keep the policy rate unchanged at its upcoming meeting after initially expecting another rate hike. The SARB\u2019s Monetary Policy Committee (MPC) is set to meet on Thursday, 23 November, where they will decide whether to […]<\/p>\n","protected":false},"author":84,"featured_media":56831,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[274,315,275],"class_list":["post-56832","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-south-africa-2"],"yoast_head":"\nHigh hopes for Reserve Bank interest rate decision - South Africa<\/title>\n<meta name=\"description\" content=\"The Bureau for Economic Research (BER) said it now expects the South African Reserve Bank (SARB) to keep the policy rate ...\" \/>\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\/high-hopes-for-reserve-bank-interest-rate-decision\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"High hopes for Reserve Bank interest rate decision\" \/>\n<meta property=\"og:description\" content=\"The Bureau for Economic Research (BER) said it now expects the South African Reserve Bank (SARB) to keep the policy rate ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/south-africa\/all-news\/high-hopes-for-reserve-bank-interest-rate-decision\" \/>\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=\"2023-11-20T15:55:42+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-11-20T17:46:54+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2023\/11\/sm_1700489700.367095.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"683\" \/>\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=\"3 minutes\" \/>\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\/high-hopes-for-reserve-bank-interest-rate-decision#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/high-hopes-for-reserve-bank-interest-rate-decision\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"High hopes for Reserve Bank interest rate decision\",\"datePublished\":\"2023-11-20T15:55:42+00:00\",\"dateModified\":\"2023-11-20T17:46:54+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/high-hopes-for-reserve-bank-interest-rate-decision\"},\"wordCount\":475,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/high-hopes-for-reserve-bank-interest-rate-decision#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2023\/11\/sm_1700489700.367095.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-South-Africa\",\"South-Africa\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/south-africa\/all-news\/high-hopes-for-reserve-bank-interest-rate-decision#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/high-hopes-for-reserve-bank-interest-rate-decision\",\"url\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/high-hopes-for-reserve-bank-interest-rate-decision\",\"name\":\"High hopes for Reserve Bank interest rate decision - South Africa\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/high-hopes-for-reserve-bank-interest-rate-decision#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/high-hopes-for-reserve-bank-interest-rate-decision#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2023\/11\/sm_1700489700.367095.jpg\",\"datePublished\":\"2023-11-20T15:55:42+00:00\",\"dateModified\":\"2023-11-20T17:46:54+00:00\",\"author\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"description\":\"The Bureau for Economic Research (BER) said it now expects the South African Reserve Bank (SARB) to keep the policy rate ...\",\"breadcrumb\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/high-hopes-for-reserve-bank-interest-rate-decision#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.africa-press.net\/south-africa\/all-news\/high-hopes-for-reserve-bank-interest-rate-decision\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/high-hopes-for-reserve-bank-interest-rate-decision#primaryimage\",\"url\":\"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2023\/11\/sm_1700489700.367095.jpg\",\"contentUrl\":\"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2023\/11\/sm_1700489700.367095.jpg\",\"width\":1024,\"height\":683,\"caption\":\"High hopes for Reserve Bank interest rate decision\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/high-hopes-for-reserve-bank-interest-rate-decision#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.africa-press.net\/south-africa\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"High hopes for Reserve Bank interest rate decision\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/#website\",\"url\":\"https:\/\/www.africa-press.net\/south-africa\/\",\"name\":\"South Africa\",\"description\":\"Just another Africa News Agency Sites site\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.africa-press.net\/south-africa\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\",\"name\":\"cfeditoren\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g\",\"caption\":\"cfeditoren\"}}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"High hopes for Reserve Bank interest rate decision - South Africa","description":"The Bureau for Economic Research (BER) said it now expects the South African Reserve Bank (SARB) to keep the policy rate ...","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.africa-press.net\/south-africa\/all-news\/high-hopes-for-reserve-bank-interest-rate-decision","og_locale":"en_US","og_type":"article","og_title":"High hopes for Reserve Bank interest rate decision","og_description":"The Bureau for Economic Research (BER) said it now expects the South African Reserve Bank (SARB) to keep the policy rate ...","og_url":"https:\/\/www.africa-press.net\/south-africa\/all-news\/high-hopes-for-reserve-bank-interest-rate-decision","og_site_name":"South Africa","article_publisher":"https:\/\/www.facebook.com\/AfricaPressTunisiaa","article_published_time":"2023-11-20T15:55:42+00:00","article_modified_time":"2023-11-20T17:46:54+00:00","og_image":[{"width":1024,"height":683,"url":"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2023\/11\/sm_1700489700.367095.jpg","type":"image\/jpeg"}],"author":"cfeditoren","twitter_card":"summary_large_image","twitter_misc":{"Written by":"cfeditoren","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.africa-press.net\/south-africa\/all-news\/high-hopes-for-reserve-bank-interest-rate-decision#article","isPartOf":{"@id":"https:\/\/www.africa-press.net\/south-africa\/all-news\/high-hopes-for-reserve-bank-interest-rate-decision"},"author":{"name":"cfeditoren","@id":"https:\/\/www.africa-press.net\/south-africa\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb"},"headline":"High hopes for Reserve Bank interest rate decision","datePublished":"2023-11-20T15:55:42+00:00","dateModified":"2023-11-20T17:46:54+00:00","mainEntityOfPage":{"@id":"https:\/\/www.africa-press.net\/south-africa\/all-news\/high-hopes-for-reserve-bank-interest-rate-decision"},"wordCount":475,"commentCount":0,"image":{"@id":"https:\/\/www.africa-press.net\/south-africa\/all-news\/high-hopes-for-reserve-bank-interest-rate-decision#primaryimage"},"thumbnailUrl":"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2023\/11\/sm_1700489700.367095.jpg","keywords":["Africa Press","Africa Press-South-Africa","South-Africa"],"articleSection":["all news","economy"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.africa-press.net\/south-africa\/all-news\/high-hopes-for-reserve-bank-interest-rate-decision#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.africa-press.net\/south-africa\/all-news\/high-hopes-for-reserve-bank-interest-rate-decision","url":"https:\/\/www.africa-press.net\/south-africa\/all-news\/high-hopes-for-reserve-bank-interest-rate-decision","name":"High hopes for Reserve Bank interest rate decision - South Africa","isPartOf":{"@id":"https:\/\/www.africa-press.net\/south-africa\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.africa-press.net\/south-africa\/all-news\/high-hopes-for-reserve-bank-interest-rate-decision#primaryimage"},"image":{"@id":"https:\/\/www.africa-press.net\/south-africa\/all-news\/high-hopes-for-reserve-bank-interest-rate-decision#primaryimage"},"thumbnailUrl":"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2023\/11\/sm_1700489700.367095.jpg","datePublished":"2023-11-20T15:55:42+00:00","dateModified":"2023-11-20T17:46:54+00:00","author":{"@id":"https:\/\/www.africa-press.net\/south-africa\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb"},"description":"The Bureau for Economic Research (BER) said it now expects the South African Reserve Bank (SARB) to keep the policy rate ...","breadcrumb":{"@id":"https:\/\/www.africa-press.net\/south-africa\/all-news\/high-hopes-for-reserve-bank-interest-rate-decision#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.africa-press.net\/south-africa\/all-news\/high-hopes-for-reserve-bank-interest-rate-decision"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.africa-press.net\/south-africa\/all-news\/high-hopes-for-reserve-bank-interest-rate-decision#primaryimage","url":"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2023\/11\/sm_1700489700.367095.jpg","contentUrl":"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2023\/11\/sm_1700489700.367095.jpg","width":1024,"height":683,"caption":"High hopes for Reserve Bank interest rate decision"},{"@type":"BreadcrumbList","@id":"https:\/\/www.africa-press.net\/south-africa\/all-news\/high-hopes-for-reserve-bank-interest-rate-decision#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.africa-press.net\/south-africa\/"},{"@type":"ListItem","position":2,"name":"High hopes for Reserve Bank interest rate decision"}]},{"@type":"WebSite","@id":"https:\/\/www.africa-press.net\/south-africa\/#website","url":"https:\/\/www.africa-press.net\/south-africa\/","name":"South Africa","description":"Just another Africa News Agency Sites site","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.africa-press.net\/south-africa\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.africa-press.net\/south-africa\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb","name":"cfeditoren","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.africa-press.net\/south-africa\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g","caption":"cfeditoren"}}]}},"_links":{"self":[{"href":"https:\/\/www.africa-press.net\/south-africa\/wp-json\/wp\/v2\/posts\/56832","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.africa-press.net\/south-africa\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.africa-press.net\/south-africa\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/south-africa\/wp-json\/wp\/v2\/users\/84"}],"replies":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/south-africa\/wp-json\/wp\/v2\/comments?post=56832"}],"version-history":[{"count":0,"href":"https:\/\/www.africa-press.net\/south-africa\/wp-json\/wp\/v2\/posts\/56832\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/south-africa\/wp-json\/wp\/v2\/media\/56831"}],"wp:attachment":[{"href":"https:\/\/www.africa-press.net\/south-africa\/wp-json\/wp\/v2\/media?parent=56832"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.africa-press.net\/south-africa\/wp-json\/wp\/v2\/categories?post=56832"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.africa-press.net\/south-africa\/wp-json\/wp\/v2\/tags?post=56832"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}