The South African Reserve Bank disappointed markets by raising its repo rate by ‘only’ 50 bps today. Hawkish rhetoric from several MPC members in the run-up to the June meeting had encouraged market expectations for a more aggressive interest rate move, and a full 100 bps had been priced in. The SARB Governor himself had [...]
Entries Tagged as 'South Africa'
SARB shock markets by hiking only 50 bps after hawkish rhetoric
June 12th, 2008 · No Comments
Tags: South Africa
South Africa - a 100 bps rate hike next week now looks more probable than not
June 5th, 2008 · No Comments
Mboweni’s comments
‘It doesn’t take a genius to know that rates are going up’. These comments by SARB Governor Tito Mboweni a few days ago, together with the admission that he had spoken to his MPC colleagues about the possibility of a 200 bps rate hike, triggered a sharp selloff in South African interest rate markets. [...]
Tags: South Africa
The SARB Monetary Policy Committee raised interest rates today by 50 bps
April 10th, 2008 · No Comments
The SARB Monetary Policy Committee raised interest rates today by 50 bps, in line with the expectation. Although the difficulty of the decision was played down by SARB Governor Tito Mboweni during the press conference that followed (he claimed that every monetary policy decision since 1999 had been difficult – a marked contrast to his [...]
Tags: South Africa