Macro Analysis /
South Africa

South Africa: Rate hike preserves attractiveness of ZAR

  • SARB hiked by 25bps today to 4.25%, in line with expectations, amid rising commodity prices and inflation expectations

  • Markets pricing an aggressive rate hiking path over the next year, with some risk of recession in the near term

  • Strong terms of trade has bolstered the ZAR and local debt, making it one of the best EM performers ytd; retain Buy

South Africa: Rate hike preserves attractiveness of ZAR
Patrick Curran
Tellimer Research
24 March 2022
Published byTellimer Research

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