At 6.5%, inflation seals another ‘aggressive’ interest rate hike

Inflation shot past 6% in May, marking the first breach of the upper limit of the South African Reserve Bank’s target range in more than five years. 

The unexpected leap in annual inflation, which may be the first in a series of nasty economic data readings, will weigh heavily on the bank’s interest rate deliberations next month — and likely cements another steep 50 basis point hike.

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Sarah Smit
Sarah Smit
Sarah Smit is a general news reporter at the Mail & Guardian. She covers topics relating to labour, corruption and the law.

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