SARB to announce rate decision
Governor of the South African Reserve Bank, Lesetja Kganyago, is set to make a rates announcement on Thursday afternoon as the central bank continues with efforts to arrest the country's high inflation.
The bank's Monetary Policy Committee has been meeting this week.
In March, the SARB hiked the repo rate by 50 basis points, moving it to 7.75% while the prime lending rate increased to 11.25%.
READ: Consumer inflation falls to 11-month low
Since November 2021, the central bank has raised the rate at which it lends money to commercial banks by 425 basis points.
Thursday's decision comes a day after Statistics South Africa announced that headline consumer inflation slowed to 6.8% in April from 7.1% in March.
However, economists warn that the Reserve Bank is likely to raise interest rates again despite the latest inflation figures.
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Most economists expect a 25 basis point hike.
They also believe the central bank is nearing the end of its rate hiking cycle.
