Sprake: SARB Likely to Hike Before Year-End

South African Reserve Bank (SARB) is likely to implement another interest rate hike before the end of 2024, according to Casey Sprake, Market Strategist at AG Capital. This prediction comes despite recent inflation data that was lower than anticipated, leading some traders to reduce their expectations for further rate increases. Sprake shared this outlook with Jennifer Zabasajja, Chief Africa Correspondent for Bloomberg. The market's recalibration of rate hike probabilities follows the latest inflation figures, which have influenced short-term trading strategies.