Experts warn rand depreciation raises concerns of a further interest rate hike.
VAAL TRIANGLE - The recent depreciation of the rand has led to speculation about a potential interest rate hike by the South African Reserve Bank. The bank’s Monetary Policy Committee is scheduled to meet next week. Investment specialists suggest the bank might raise rates by 50 basis points. They say such a move could assist in addressing inflation concerns and managing the inflation outlook. The rand took a knock over America’s allegations of South Africa supplying weapons to Russia.