JOHANNESBURG - South African consumers are bracing for a potential interest-rate hike this week.
Higher oil prices have resulted in the spread of war inflation.
And the bank may join a handful of central banks to hike rates to keep rising cost pressures down.
The bank has been concerned that higher fuel prices will result in so-called second effects or more widespread inflation.
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South Africa’s inflation rate quickened to 4% in April from 3.1% in March.
That’s the steepest reading since August 2024 and it moves further away from the Reserve Bank’s 3% target.
The Reserve Bank’s Monetary Policy Committee will pronounce on interest rates on Thursday.