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Expect a big interest rate hike this week: economists.

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South African businesses and consumers should plan for a big interest rate hike this week – with more to come in the months ahead, economists warn.

The South African Reserve Bank’s monetary policy committee is set to meet this week, with analysts still waiting for Statistics South Africa to publish its June inflation numbers on Wednesday (20 July) before making a final forecast on how much rates will increase by.

Predictions from Finder’s panel of 26 economists point to a 50 basis point hike being the most likely, with the majority (88%) of experts pencilling this in.
19 Jul 2022 1AM English South Africa Business News · Investing

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