The South African Reserve Bank’s (SARB) Monetary Policy Committee (MPC) has hiked South Africa’s interest rates by another 50 basis points.

The South African Reserve Bank (Sarb) will hike the repo rate for the last time in the current cycle on Thursday, then hit brakes.

Most African central banks due to decide on interest rates in the next two weeks are set to keep them on hold as decades-high inflation eases after more than a year of tightening.

Zimbabwe has turned to digital money to help ease soaring demand for US dollars in its economy as the value of the local currency plunged. 

Faced with sticky inflation but sluggish economic growth, the South African Reserve Bank (SARB) is considering changing its interest rate modelling tool.