South Africa surprises with bigger rate hike than forecast
March 30, 2023 at 12:22 PM EDT
PRETORIA, March 30(Reuters) - South Africa's central bank surprised markets by raising its main lending rate (ZAREPO=ECI) by a higher than expected 50 basis points to 7.75% on Thursday in a bid to tame inflation. The rate increase was twice the 25 basis point increase expected by the majority of … Source