Rand still very, very resilient with biggest interest rate hike since 2016 looming – TreasuryOne’s Andre Cilliers

The country is bracing itself for an interest rate hike when the South African Reserve Bank’s Monetary Policy Committee (MPC) sits on Thursday. Reserve Bank Governor Lesetja Kganyago will also indicate whether further hikes are likely. His announcement comes as the latest consumer price index has been published by Statistics South Africa indicating that inflation remained flat at 5.9%, while the consumer price index increased by 0.6% month-on-month in April. TreasuryOne’s André Cilliers told BizNews what impact a hike would have on the value of our currency. Cilliers also gives his prediction of the likely interest rate increase, and also looks at how our inflation rate compares to that of other countries. – Linda van Tilburg Learn more about your ad choices. Visit megaphone.fm/adchoices