S.Africa rates may have to rise to curb inflation: Groepe

by Reuters 14 views0

S.Africa's rand gains SA's competition watchdog may impose some of its highest fines after its investigation on the suspected currency-rigging global and banks.

South Africa’s central bank may have to raise interest rates to deal with a deteriorating inflation outlook, deputy governor Francois Groepe said on Wednesday.

“The deteriorating inflation outlook may necessitate policy action as the window for an unchanged stance has narrowed,” Groepe told an investment seminar in Cape Town, adding that the bank was in a policy-tightening cycle.