Quarterly Report | Q2 ’22
Introduction
The second quarter of 2022 was highlighted by a decrease in South African investor confidence due to ongoing loadshedding, labour strikes and increasing fuel prices. Inflation increased to 6.5% towards the end of the quarter, which is above the South African Reserve Bank’s (SARB) target of between 3% and 6%. The SARB announced a 50-basis point interest rate hike during May. The next Monetary Policy Committee (MPC) meeting is scheduled for 21 July, to decide whether to increase interest rates due to inflationary pressures. The market expects another 50 to 75 basis point interest rate hike. During the second quarter of 2022, the South African Rand (ZAR) depreciated against the US Dollar (USD), mainly due to strong USD dynamics.
Previous Reports
Quarterly Report | Q1 ’25
The South African Reserve Bank (SARB) decreased interest rates by 25 basis points at the January Monetary Policy Committee (MPC) meeting.
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