# South African Rand Rally and Outlook Bolstered by Hawkish SARB

> The South African rand extended gains after the Reserve Bank raised its repo rate from 4% to 4.25%, in line with market expectations. Two of five MPC members voted for a larger increase to 4.50%. The bank raised its inflation forecasts, which are now above the 3-6% target band.

- Date: 2022-03-24 · published 2022-03-24T12:00:00.000Z
- Category: macro · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/42558-south-african-rand-rally-and-outlook-bolstered-by-hawkish-sarb
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

Higher-than-expected inflation and a hawkish policy path support the rand, which lowers local-currency costs of dollar-priced feed imports. The rate decision has limited direct effect on world feed prices.

## Read by commodity

- USDZAR: bearish ▼

## Sources

- poundsterlinglive.com: https://www.poundsterlinglive.com/zar/16735-south-african-rand-rally-and-outlook-bolstered-by-hawkish-sarb

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