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Interest rate pain coming for South Africa | SA News

 ·20 May 2026

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South Africa is poised to join a handful of central banks in raising interest rates to contain the inflationary fallout from the Iran war in the coming weeks, even as most peers keep borrowing costs on hold.

The conflict that erupted in late February has driven up energy, food and fertiliser costs due to the blockade of the Strait of Hormuz.

The strait is a key shipping route for about a fifth of the world’s seaborne oil and liquefied natural gas, and a significant portion of crop…

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