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PPS Investments: MPC Commentary

19 May 2022

The Monetary Policy Committee (MPC) increased the repo rate by 50 basis points to 4.75%, following on from its prior three 25 basis point hikes since embarking on the current hiking cycle. Four MPC members voted in favour, with one preferring a 25 basis point increase.

SARB getting ahead of the curve

19 May 2022

At today's Monetary Policy Committee (MPC) meeting the South African Reserve Bank (SARB) hiked the policy rate by 50 basis points, to 4.75%. This was in line with consensus expectations and market pricing. As such, the outcome was not a surprise. From the post-meeting Q&A session there was, however, some concern that the increment was excessive given the subdued growth outlook.

SA stays on the recovery path as interest rates normalise

19 May 2022

Following the South African Reserve Bank’s (SARB’S) decision increase its repo rate by 0.50%, FNB will lift its prime lending rate by 0.50% with effect from Friday, 20 May 2022.