# Reserve Bank springs hawkish surprise

> The SARB raised its repo rate by 50 basis points to 7.75%, a hawkish surprise driven by load-shedding and deteriorating global financial conditions. The central bank cited concerns about the effect of electricity shortages on inflation.

- Date: 2023-03-30 · published 2023-03-30T12:00:00.000Z
- Category: policy · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/37166-reserve-bank-springs-hawkish-surprise
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

Higher South African rates tend to firm the rand, which reduces import costs for feed ingredients, while load-shedding adds logistics and processing risk for domestic feed producers.

## Read by commodity

- USDZAR: bearish ▼

## Sources

- businessday.co.za: https://www.businessday.co.za/bd/economy/2023-03-30-reserve-bank-springs-hawkish-surprise/

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