Sarb hikes rates as oil, Middle East tensions bite

Source: Reuters.

The decision - taken by the Monetary Policy Committee, chaired by governor Lesetja Kganyago - was unanimous.

Since the MPC's July meeting this year, the conflict involving Iran and the wider Middle East has escalated, contributing to the higher oil prices and a more uncertain global economic outlook.

The latest decision aims to bring inflation back towards the Sarb's 3% target.

There is just one interest-rate announcement remaining this year.