SA turns less hawkish on key rate after riots

sa turns less hawkish on key rate after riots

Sumary of SA turns less hawkish on key rate after riots:

  • South Africa’s central bank softened its stance on raising borrowing costs this year as the country reels from deadly riots and a third wave of coronavirus infections.
  • While the monetary policy committee (MPC) unanimously voted to leave the benchmark interest rate at a record low 3.5% for a sixth straight meeting, the implied policy rate path of the central bank’s quarterly projection model now shows the repurchase rate at 3.79% by the end of 2021, compared with 4.07% at the previous MPC meeting.
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