The SARB hiked the repo rate 25bp to 7.00% on intensifying inflation risks, in a 4-2 vote effective tomorrow. The AfDB’s final day in Brazzaville launched the inaugural Integrate Africa Forum and a new Trade Finance Report. President Ould Tah’s NAFAD framework targets the $4 trillion in African savings sitting idle. The African Credit Rating Agency is now operational. Today’s Africa intelligence brief covers the continent’s finance, markets, economy, politics, and security tape.
South Africa
SARB Hikes Repo Rate 25bp to 7.00%
The SARB’s Monetary Policy Committee raised the repo rate by 25bp to 7.00%, effective May 29. Four members backed the hike; two preferred to hold.
Governor Kganyago said the committee acted because inflation risks had intensified and overlapping shocks could trigger second-round effects. The decision is designed to bring inflation back toward the new 3% target.
