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The South African Reserve Bank kept its benchmark repo rate unchanged at a record low of 3.5%, as expected by the market. Its internal model points to rate hikes beginning in the fourth quarter of 2021 and continuing through 2023.
Governor Kganyago said future decisions will remain data dependent.
Expected rate hikes tend to support the rand and can dampen domestic demand and credit growth. The effect on feed prices is indirect and small, since the rand's direction matters more for import costs.
businessday.co.zaLynley DonnellySep 26, 2021Not 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.
