South African central bank raises repo rate by 50 bps to 7.75%

The higher inflation forecasts were a clue and now the South African Reserve Bank has hiked its main repo rate by 50 bps to 7.75%.

USD/ZAR has dropped to a five-week low in the aftermath of the decision.

If you're in South Africa, I'll be there from May 8-10 at the Finance Magnates Africa Summit.