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Traders bet SA interest rates won't be cut in 2024 - with a risk of a hike

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SA Reserve Bank Governor Lesetja Kganyago (Tebogo Letsie)
SA Reserve Bank Governor Lesetja Kganyago (Tebogo Letsie)

South Africa’s central bank won’t cut interest rates this year because of persistent inflation and there’s even a risk it could raise them, bets in financial futures markets show.

The shift, which followed a hotter-than-expected reading on US consumer prices for March, now indicates investors pricing in a slight prospect the South African Reserve Bank will increase rates at its meeting next month.

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Rand - Dollar
18.56
+0.2%
Rand - Pound
23.27
+0.2%
Rand - Euro
19.91
+0.2%
Rand - Aus dollar
12.19
-0.3%
Rand - Yen
0.12
+0.0%
Platinum
958.60
-0.4%
Palladium
937.50
-1.8%
Gold
2,301.23
-0.8%
Silver
26.63
-0.0%
Brent Crude
83.44
-3.5%
Top 40
69,944
+0.0%
All Share
76,047
-0.0%
Resource 10
60,380
-1.5%
Industrial 25
105,857
+0.8%
Financial 15
16,588
-0.0%
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