**South Africa’s central bank raised its benchmark interest rate by 75 basis points to 5.5 percent on Thursday — the steepest hike in a decade.
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The South African Reserve Bank’s Monetary Policy Commitee announced Thursday its members have agreed on an “increase to the repurchase rate by 75 basis points to 5.50% per year, with effect from the 22nd of July 2022.“
According to the statement, three members of the Committee…
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