# SA Reserve Bank hikes repo rate by 50 basis points after inflation, rand set alarm bells ringing

> The SARB raised its repo rate by 50 basis points to 7.75%, the ninth consecutive hike, confounding expectations of 25 basis points. The rand rallied from 18.00 to about 17.85 per dollar after the announcement, and food inflation hit a 14-year high of 13.6%.

- Date: 2023-03-30 · published 2023-03-30T12:00:00.000Z
- Category: macro · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/37164-sa-reserve-bank-hikes-repo-rate-by-50-basis-points-after-inflation-rand-set
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

Higher domestic rates and a firmer rand together reduce the cost of imported feed ingredients, while high food inflation signals strong domestic demand for animal protein.

## Read by commodity

- USDZAR: bearish ▼

## Sources

- dailymaverick.co.za: https://www.dailymaverick.co.za/article/2023-03-30-sa-reserve-bank-hikes-repo-rate-by-50-basis-points-after-inflation-rand-set-alarm-bells-ringing/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.