South Africa's current account flipped from a R181.6bn surplus to a R205.5bn deficit in a single quarter as oil import costs jumped 82.1%, a sharper reversal than Turkey, Mexico or Brazil have faced from the same energy shock.
The CBRT’s fifth consecutive hold at 37% keeps real rates deeply positive after January’s cut from 38%, as the committee flags cooling underlying inflation but energy-price upside risk. Source
