Is it the end of the interest rate cutting cycle?


The South African Reserve Bank Governor, Lesetja Kganyago, announced the view to keep interest rates unchanged at 6.5% and is aligned to market expectations. The outcome was anticipated due to the initial effects of the 1% VAT rate increase manifesting in the latest inflation figure, which rose to a four-month high from 3.8% in March to 4.5% in April.