Heurist Finance

South Africa raises key rate to 7.25% as inflation resurges

Bloomberg · 6 hours ago
South Africa raises key rate to 7.25% as inflation resurges
  • The South African Reserve Bank lifted its benchmark rate by 25 basis points to 7.25% on Wednesday.
  • The six-member monetary policy committee voted unanimously for the hike, Governor Lesetja Kganyago said in Pretoria.
  • The decision matched the forecasts of 19 of 22 economists surveyed by Bloomberg; three expected a hold.

Quotes

“The six-member monetary policy committee lifted the benchmark rate by 25 basis points to 7.25%, Governor Lesetja Kganyago told reporters in Pretoria on Wednesday.”— Lesetja Kganyago

Sources