# Reserve Bank stays put on rates but hike expected in November

> 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.

- Date: 2021-09-26 · published 2021-09-26T12:00:00.000Z
- Category: macro · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/45355-reserve-bank-stays-put-on-rates-but-hike-expected-in-november
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

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.

## Read by commodity

- USDZAR: bearish ▼

## Sources

- businessday.co.za: https://www.businessday.co.za/bd/economy/2021-09-26-reserve-bank-stays-put-on-rates-but-hike-expected-in-november/

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