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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The post At 6.5%, inflation seals another ‘aggressive’ interest rate hike appeared first on The Mail & Guardian.

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