Goldman Now Sees Two 2026 South Africa Rate Hikes Because of War

Goldman Sachs Group Inc. expects South Africa to raise interest rates twice this year after previously seeing a series of cuts, as the Iran war fans inflation risks around the world.

The bank forecasts quarter-point increases at the central bank’s meetings in May and July, after raising its oil-price and inflation assumptions in response to ongoing tensions in the Middle East, Goldman economist Andrew Matheny said in an interview.