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MNI SARB Preview - Nov 2021: SARB likely Unchanged at 3.5%, Market Signals Risks to +25bp Hike

SOUTH AFRICA

1300GMT/1400CET/0800ET


The SARB is at a key inflection point this week with market pricing for a +25bp hike diverging from a marginal consensus in favour of a hold at 3.50%. In light of the still-muted aggregate demand impulse, elevated unemployment and a relatively benign medium-term inflation outlook, it is becoming more likely that rates remain unchanged out to 1Q22 with Governor Kganyago cautious not to curtail SA's fragile recovery with CPI still within the 3-6% target range.


Full Preview Here:

SARB Preview 18.11.21.pdf



MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

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