South Africans could face another interest rate hike on Wednesday, with financial markets heavily betting on an increase as rising oil prices and the US Federal Reserve’s latest move add to inflation concerns. The South African Reserve Bank’s (SARB’s) Monetary Policy Committee (MPC) is expected to announce its latest interest rate decision at around 3pm, with the odds increasingly pointing towards a 25 basis-point hike. Investec chief economist Annabel Bishop said financial markets had already been pricing in a near 85% chance of a 25 basis-point increase, with a second hike fully factored in by the end of the year. That would take the repo rate from 7% to 7.25% and prime from 10.5% to 10.75%.
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