SARB Raises Benchmark Rate 25 bps to 7.25% as Rand Weakens

Commerzbank··ZAUS·Read original
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Summary · why it matters

The South African Reserve Bank raised its benchmark rate by 25 bps to 7.25%, its second hike this year, according to Commerzbank's Volkmar Baur. Earlier expectations for rate cuts faded as higher Oil prices changed the outlook. Despite the hike, the South African Rand weakened, largely on Dollar strength.

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