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Friday, March 29, 2024

South Africa surprises with bigger rate hike than forecast

PRETORIA, March 30(Reuters) – South Africa’s central bank surprised markets by raising its main lending rate (ZAREPO=ECI) by a higher than expected 50 basis points to 7.75% on Thursday in a bid to tame inflation. The rate increase was twice the 25 basis point increase expected by the majority of …

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