Following yesterday’s hiking of the Repo rate by the South African Reserve Bank experts are warning that there is not likely to much respite any time soon. This, Fin24 reports, as the MPC’s current modelling suggests the possibility of another 11 rate hikes of 25 basis points each. “There is nothing we can do about yesterday’s inflation or today’s inflation. (But) we can do something about tomorrow’s inflation,” Reserve Bank Governor Lesetja Kganyago said, indicating that the monetary authority won’t hesitate to take action. Some economists expect fewer rate hikes than the MPC’s modelling though, with Sanisha Packirisamy, economist with Momentum Investments, forecasting that the rate will end 2022 at 4.75%, and 2023 at 5.75%.
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