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The South African Reserve Bank raised its repo rate by 25 basis points to 4%, lifting the prime lending rate to 7.5%. It also raised its 2022 headline inflation forecast to 4.9% from 4.3%.
The rand softened after the decision, with moves also guided by US data.
Higher domestic rates raise borrowing costs for South African feed and livestock operators, and the higher inflation outlook points to continued tightening.
ig.comJan 27, 2022Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
