The Central Bank of South Africa raised interest rates by 50 bps, more than expected
PRETORIA, May 25 (Reuters) – South Africa’s central bank on Thursday raised its key interest rate by 50 basis points to 8.25%.
Most economists polled by Reuters expected a 25 bp rise in borrowing costs.
The regulator raised rates for the tenth time in a row, raising them by a total of 475 bp. since PrEP tightening began in November 2021.
The South African Rand fell 2% to 1711 GMT.
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(Anahit Mirijanyan, Bhargav Acharya and Kopano Gumbi)
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