{"id":97667,"date":"2026-04-23T13:58:17","date_gmt":"2026-04-23T13:58:17","guid":{"rendered":"https:\/\/www.africa-press.net\/south-africa\/all-news\/interest-rate-hikes-coming-for-south-africa"},"modified":"2026-04-23T14:05:21","modified_gmt":"2026-04-23T14:05:21","slug":"interest-rate-hikes-coming-for-south-africa","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/south-africa\/all-news\/interest-rate-hikes-coming-for-south-africa","title":{"rendered":"Interest Rate Hikes Coming For South Africa"},"content":{"rendered":"

Africa-Press – South-Africa. <\/strong><\/span>The South African Reserve Bank (SARB) said that the Iran war presented material upside risks to the country\u2019s inflation trajectory, with markets pricing in two interest rate hikes this year, but that it still expected inflation to remain within the tolerance band of one percentage point above the 3% inflation target.<\/p>\n

It expects headline inflation to be higher in the near term and average 3.7% this year before easing back to target by late 2027.<\/p>\n

In its twice-yearly Monetary Policy Review, the central bank said the energy shock was expected to affect but not derail the country\u2019s transition to its 3% inflation target.<\/p>\n

\u201cUncertainty regarding the duration of the Middle East conflict, the extent of infrastructure damage and the magnitude of second-round effects skews risks to the upside,\u201d it said.<\/p>\n

Inflation was at 3% in February, the latest available data showed, but this was before the Middle East conflict began.<\/p>\n

In its March monetary policy committee statement, the bank showed two scenarios for the inflation outlook, one \u201cintermediate\u201d and one \u201csevere\u201d.<\/p>\n

In the severe scenario, oil remains above $97 per barrel for the year and inflation is expected to be sharply higher, and the inflation target will not be met within the forecast horizon, reflecting a larger and longer-lasting shock.<\/p>\n

The SARB also said market-implied interest rate expectations now suggest scope for about two 25 basis-point hikes this year. This contrasts with two cuts in 2026 that were anticipated just before the conflict began.<\/p>\n

Despite the uncertainty around the war\u2019s duration, the bank said the country was in a stronger position now than during the 2022 energy price shock thanks to a lower inflation target and ongoing fiscal consolidation that had lowered the risk premium.<\/p>\n

The bank\u2019s Monetary Policy Committee has held its key rate at 6.75% at every meeting this year since reducing it by 25 basis points in November 2025.<\/p>\n

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

Africa-Press – South-Africa. The South African Reserve Bank (SARB) said that the Iran war presented material upside risks to the country\u2019s inflation trajectory, with markets pricing in two interest rate hikes this year, but that it still expected inflation to remain within the tolerance band of one percentage point above the 3% inflation target. It […]<\/p>\n","protected":false},"author":84,"featured_media":97666,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,7,12],"tags":[275],"class_list":["post-97667","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-head-lines","category-policy","tag-south-africa-2"],"yoast_head":"\nInterest Rate Hikes Coming For South Africa - South Africa<\/title>\n<meta name=\"description\" content=\"The South African Reserve Bank (SARB) said that the Iran war presented material upside risks to the country\u2019s inflation ...\" \/>\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\/interest-rate-hikes-coming-for-south-africa\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Interest Rate Hikes Coming For South Africa\" \/>\n<meta property=\"og:description\" content=\"The South African Reserve Bank (SARB) said that the Iran war presented material upside risks to the country\u2019s inflation ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/south-africa\/all-news\/interest-rate-hikes-coming-for-south-africa\" \/>\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=\"2026-04-23T13:58:17+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-04-23T14:05:21+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2026\/04\/sm_1776940412.07749.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"576\" \/>\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=\"2 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\/interest-rate-hikes-coming-for-south-africa#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/interest-rate-hikes-coming-for-south-africa\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Interest Rate Hikes Coming For South Africa\",\"datePublished\":\"2026-04-23T13:58:17+00:00\",\"dateModified\":\"2026-04-23T14:05:21+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/interest-rate-hikes-coming-for-south-africa\"},\"wordCount\":323,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/interest-rate-hikes-coming-for-south-africa#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2026\/04\/sm_1776940412.07749.jpg\",\"keywords\":[\"South-Africa\"],\"articleSection\":[\"all news\",\"head lines\",\"policy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/south-africa\/all-news\/interest-rate-hikes-coming-for-south-africa#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/interest-rate-hikes-coming-for-south-africa\",\"url\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/interest-rate-hikes-coming-for-south-africa\",\"name\":\"Interest Rate Hikes Coming For South Africa - 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