Economics
Traders Start Betting on South African Rates Stabilizing in 2023
- Central bank has hiked at each of its past five meetings
- July CPI reading matched economist forecasts; at 13-year high
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Traders are paring back their expectations for South African interest rate hikes after the latest reading on inflation matched economist expectations.
July’s CPI figure was the first in three months not to surprise the market to the upside. That’s eased some concern that the central bank will have to continue with aggressive policy moves.