The Macro Chart Book: September 2018

The SARB left rates unchanged but may hike in November

As expected, the SARB left rates unchanged at its September Monetary Policy Committee (MPC) meeting, while the Fed raised rates by 0.25%. Local inflation came in lower than expected, which might have swayed the overall decision. The SARB also announced that it will phase out the Committed Liquidity Facility that it provides to banks over the next few years.