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South Africa central bank to hold rates, but a close call: poll - 3 months ago, 15 Nov 23:21

By: Reuters

South Africa’s central bank will keep interest rates on hold at its Nov. 22 meeting, according to a Reuters poll, but the number of economists forecasting a rise suggests it is a very close call.

In a poll taken in the past week, 16 of 26 economists said the South African Reserve Bank (SARB) would keep its repo rate at 6.50 percent while the rest opted for a 25 basis-point hike.

As a whole, economists gave a median 45 percent chance of a hike this month, suggesting the Bank may not wait until January or March before raising the rate to 6.75 percent.

“The probability of a rate hike is increasing, and if it was not for a stronger rand after the U.S. midterm election and the lower international oil price, the probability could have been in favor for a rate hike in November,” said Johannes Jordaan at Economic Modelling Solutions.

The rand has ...
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