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SA bracing for stiff rate hike

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Sarb deputy governor Lesetja Kganyago. (Lisa Hnatowicz)
Sarb deputy governor Lesetja Kganyago. (Lisa Hnatowicz)

Cape Town - South Africans are bracing for an interest rate hike of up to 50 basis points on Thursday, as the rand hovers at record low levels.

However, increasing inflationary pressures could dissuade the SA Reserve Bank (Sarb) at its policy meeting on Thursday from hiking the repo rate by the consensus forecast of 50 basis points.

There was no direction coming from the US Federal Reserve on Wednesday evening as the Fed kept rates steady and indicated that its focus has now moved to looking at gobal markets rather than zeroing in on its own data in determining a rise in rates.

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