Sarb to hike its repo by 50bps

The South African Reserve Bank (Sarb) is set to make its first 50 basis point (bps) hike to its repo rate in more than six years next week, taking it to 4.75%, to prevent potential second-round effects from higher consumer prices, a Reuters poll said.

16 of 24 economists in the survey concluded the Sarb would raise its repo rate by 50 bps. –