20°C / 22°C
  • Thu
  • 16°C
  • 10°C
  • Fri
  • 18°C
  • 11°C
  • Sat
  • 20°C
  • 14°C
  • Sun
  • 23°C
  • 15°C
  • Mon
  • 23°C
  • 15°C
  • Tue
  • 21°C
  • 15°C
  • Thu
  • 31°C
  • 13°C
  • Fri
  • 27°C
  • 17°C
  • Sat
  • 24°C
  • 17°C
  • Sun
  • 26°C
  • 16°C
  • Mon
  • 27°C
  • 16°C
  • Tue
  • 26°C
  • 16°C
  • Thu
  • 16°C
  • 12°C
  • Fri
  • 20°C
  • 12°C
  • Sat
  • 21°C
  • 16°C
  • Sun
  • 22°C
  • 16°C
  • Mon
  • 23°C
  • 16°C
  • Tue
  • 23°C
  • 16°C
  • Thu
  • 17°C
  • 11°C
  • Fri
  • 19°C
  • 12°C
  • Sat
  • 20°C
  • 14°C
  • Sun
  • 25°C
  • 15°C
  • Mon
  • 24°C
  • 15°C
  • Tue
  • 22°C
  • 16°C
  • Thu
  • 22°C
  • 16°C
  • Fri
  • 25°C
  • 18°C
  • Sat
  • 26°C
  • 17°C
  • Sun
  • 23°C
  • 20°C
  • Mon
  • 23°C
  • 19°C
  • Tue
  • 23°C
  • 18°C
  • Thu
  • 22°C
  • 13°C
  • Fri
  • 25°C
  • 15°C
  • Sat
  • 22°C
  • 17°C
  • Sun
  • 22°C
  • 16°C
  • Mon
  • 21°C
  • 18°C
  • Tue
  • 21°C
  • 17°C
  • Thu
  • 35°C
  • 14°C
  • Fri
  • 33°C
  • 17°C
  • Sat
  • 32°C
  • 15°C
  • Sun
  • 33°C
  • 15°C
  • Mon
  • 33°C
  • 15°C
  • Tue
  • 32°C
  • 16°C
  • Thu
  • 27°C
  • 14°C
  • Fri
  • 25°C
  • 18°C
  • Sat
  • 25°C
  • 17°C
  • Sun
  • 26°C
  • 16°C
  • Mon
  • 27°C
  • 16°C
  • Tue
  • 27°C
  • 16°C
  • Thu
  • 17°C
  • 13°C
  • Fri
  • 20°C
  • 14°C
  • Sat
  • 22°C
  • 16°C
  • Sun
  • 25°C
  • 17°C
  • Mon
  • 25°C
  • 17°C
  • Tue
  • 23°C
  • 18°C
  • Thu
  • 20°C
  • 11°C
  • Fri
  • 23°C
  • 14°C
  • Sat
  • 19°C
  • 12°C
  • Sun
  • 25°C
  • 10°C
  • Mon
  • 27°C
  • 13°C
  • Tue
  • 28°C
  • 14°C
  • Thu
  • 16°C
  • 12°C
  • Fri
  • 25°C
  • 11°C
  • Sat
  • 27°C
  • 17°C
  • Sun
  • 22°C
  • 17°C
  • Mon
  • 21°C
  • 17°C
  • Tue
  • 23°C
  • 17°C
  • Thu
  • 25°C
  • 11°C
  • Fri
  • 28°C
  • 15°C
  • Sat
  • 22°C
  • 15°C
  • Sun
  • 22°C
  • 14°C
  • Mon
  • 22°C
  • 15°C
  • Tue
  • 23°C
  • 15°C

‘Reserve bank could hike interest rates again’

CPI for the month of January showed prices on the shop shelf rose by 6.2 percent year on year.

Picture: Christa Eybers/EWN.

CAPE TOWN - New figures released by Statistics South Africa (Stats SA) today show Consumer Price Inflation (CPI) has now breached the Reserve Bank's target range of between three and six percent, which may mean the Reserve Bank may hike interest rates again.

CPI for the month of January showed prices on the shop shelf rose by 6.2 percent year on year.

The bank has already raised rates this year.

Investec chief economist Annabel Bishop says this will have an impact on the way the bank's monetary policy committee looks at interest rates.

"I think the Reserve Bank is looking forward to more interest rate hikes this year. I certainly anticipate them doing another 75 basis points at the very least, possibly they might not move at the MPC meeting because the rand has pulled back."

Comments

EWN welcomes all comments that are constructive, contribute to discussions in a meaningful manner and take stories forward.

However, we will NOT condone the following:

- Racism (including offensive comments based on ethnicity and nationality)
- Sexism
- Homophobia
- Religious intolerance
- Cyber bullying
- Hate speech
- Derogatory language
- Comments inciting violence.

We ask that your comments remain relevant to the articles they appear on and do not include general banter or conversation as this dilutes the effectiveness of the comments section.

We strive to make the EWN community a safe and welcoming space for all.

EWN reserves the right to: 1) remove any comments that do not follow the above guidelines; and, 2) ban users who repeatedly infringe the rules.

Should you find any comments upsetting or offensive you can also flag them and we will assess it against our guidelines.

EWN is constantly reviewing its comments policy in order to create an environment conducive to constructive conversations.

comments powered by Disqus