South Africa Raises Rates to 7.25% on Iran Shock
South Africa raised its interest rate by 25 basis points to 7.25 percent. The central bank cited price shocks from the Iran war. Officials aim to curb rising inflation pressures.
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South Africa raised interest rates by 25 basis points to 7.25% on Wednesday afternoon, citing price shocks from the war in Iran . The unanimous decision by the central bank follows similar monetary tightening in major economies. Policymakers aim to curb rising inflation as external energy pressures mount.
