"Have interest rates peaked? The answer is a resounding 'no'," governor of the South African Reserve Bank Lesetja Kganyago told journalists on Thursday."Is this the end of the hiking cycle? No, it is not."set on hiking rates? The answer cannot be a resounding"yes", either.
After all, the Reserve Bank also announced that it downgraded its forecast for 2023 headline inflation while also lowering its food inflation forecast from 10.8% to 10.3%. Inflation is clearly cooling faster than it previously expected. This contributed to its decision to leave rates unchanged.Get 14 days free to read all our investigative and in-depth journalism. Thereafter you will be billed R75 per month. You can cancel anytime and if you cancel within 14 days you won't be billed.
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