Ahead of this decision, the consensus view was that today’s move would mark the end of the hiking cycle, but the road ahead is precarious as a lift in the cost of doing business and a weaker rand-dollar exchange rate should support stubborn inflation in SA.
South Africa surprises with bigger rate hike than forecast kitco.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from kitco.com Daily Mail and Mail on Sunday newspapers.
The latest FNB/BER Consumer Confidence Index shows that the big drop mirrors the substantial deterioration in retailer sentiment during the first quarter.