In a survey conducted July 6-12, 12 of 21 economists said the South African Reserve Bank will keep rates steady at 8.25% on July 20. The remaining nine said rates will be hiked 25 bps.
"We see little reason for the SARB to hike its policy rate further from the current 8.25%, with June 2023 inflation likely to have fallen back within the 3%-6% target range, and July inflation potentially below 5.0% on base effects," wrote Razia Khan at Standard Chartered.
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