MARKET WRAP: Rate hike underpins buoyant rand
Reserve Bank sounds hawkish tone after revealing that two of its monetary policy committee’s five members had sought an even bigger increase
24 March 2022 – 19:12
The rand remained at a five-month high and local bonds firmed after the Reserve Bank raised its benchmark interest rate as expected on Thursday.
The Monetary Policy Committee (MPC) raised the repo rate for a third straight meeting — by a quarter of a percentage point to 4.25% — noting that inflation remained near the upper limit of its 3%-6% target range. Annual consumer price inflation was 5.7% in February, unchanged from a month earlier, according to the latest data from Stats SA. ..
Source: businesslive.co.za
