The South African Reserve Bank looks set to leave interest rates on hold at 8.25% next week and it now seems an easing cycle won’t begin until after May’s election, the outcome of which could even persuade the SARB to not cut rates at all this year. Meanwhile, in Nigeria, the minutes from the CBN’s February meeting highlighted the MPC debate amongst doves and hawks on the use of aggressive interest rate hikes to rein in inflation and support the naira. We expect the hawks to win out again on Tuesday, with the MPC hiking rates by 200bp to 24.75%.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services