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🌏 SARB holds at 6.75% for a third straight meeting as April CPI spikes 90bps. The Iran war is closing EM central banks' easing room.
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🌏 SARB holds at 6.75% for a third straight meeting as April CPI spikes 90bps. The Iran war is closing EM central banks' easing room.

Macro Soup Newsroom Macro Soup Newsroom 3 min read

South Africa's SARB held at 6.75% as April CPI surged 90bps to 4.0% on Iran-war energy pass-through. The bank's own revised forecasts now put a late-year hike squarely in play.

Lesetja Kganyago in a suit standing behind a wooden podium with a nameplate reading 'Lesetja Kganyago Governor'.
South African Reserve Bank Governor Lesetja Kganyago announced a 25 basis point repo rate increase to 7% on May 28, with four MPC members supporting the move amid rising inflation risks from global oil shocks. Source

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