Short-term, low to middle income householders will feel the pain but with a resilient US economy at play, I am not sure whether this will be enough to cap rand losses against the US dollar just yet." JAMES WILSON, EMERGING MARKET SOVEREIGN STRATEGIST, ING "The SARB's decision to hike rates by 50bps seemed to have been driven by the first half of the SARB's primary mandate to protect the value rand. This was outside the upper end of the most recent polling data but given the weaker currency it seems the expectation was in the market." WARREN VENKETAS, DAILYFX ANALYST ![]() "The currency immediately weakened 35c against the US dollar, as some traders may have been expecting a 75bps hike. But if further evidence materialises that loadshedding is fuelling price pressures, the SARB may feel compelled to keep rates high for longer." GARY BOOYSEN, RAND SWISS PORTFOLIO MANAGER "Rate cuts will probably materialise in late-2023. Inflation should continue to drop over the coming months, bringing it back within the SARB's 3-6% target range by the middle of this year." "We think today's decision marks the end of the tightening cycle. JASON TUVEY, DEPUTY CHIEF EMERGING MARKETS ECONOMIST, CAPITAL ECONOMICS JOHANNESBURG, May 25 (Reuters) - Below are some comments from analysts and investors after the South African Reserve Bank (SARB) raised its main lending rate, also called repo rate, by 50 basis points to 8.25%.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |