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Mboweni hints at pre-Christmas rate hike

15th Nov 2006, 10:22 GMT

The South African Reserve bank will remain resolute to keep inflation under control, and not hesitate to change monetary policy before Christmas if necessary, Governor Tito Mboweni said on Tuesday, signalling another rate hike. The Reserve Bank has already raised its repo rate by 150 basis points since June to curb inflationary pressures, and most analysts expect more increases ahead.

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