IN­TER­EST RATES TO CLIMB

Finweek English Edition - - THE WEEK -

In­ter­est rates are ex­pected to climb by an­other 50 ba­sis points this year, even though un­cer­tainty around the tim­ing of the hikes re­mains, Mal­colm Charles and Nazmeera Moola from In­vestec As­set Man­age­ment’s fixed in­come team com­mented in a state­ment. Le­setja Kganyago, gover­nor of the South African Re­serve Bank, was ex­pected to make an an­nounce­ment on in­ter­est rates on 19 May, af­ter fin­week went to print. The volatile rand, driven in part by the cur­rent po­lit­i­cal tur­moil, may weigh in favour of an­other in­ter­est rate hike de­spite the weak econ­omy. In­ter­est rates have risen by 200 ba­sis points since the low in 2013.

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