USD/ZAR: Possible Rand gains in case of a hawkish seeming SARB likely to be limited – Commerzbank USDZAR SouthAfrica InterestRate Banks
The South African central bank is likely to hike its key rate by a further 25 bps today to 7.5%. A lot already seems to have been priced in, so that the reaction of the Rand exchange“With a view to rising inflation risks it cannot be excluded that a larger rate step of 50 bps will at least be discussed. However, due to the weak economy we assume that the majority on the board will vote in favour of a moderate 25 bps hike.
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