Economists expect a possible rate hike this week

Economists and market observers expect the Reserve Bank to raise interest rates by 25 basis points this week.

Due to the Heritage Day holiday on Thursday, the SARB's Monetary Policy Committee will announce its decision on rates on Wednesday.

But as SABC News' Nompumelelo Siziba notes, the decision comes as the current consumer price inflation rate sits at 4.3 percent. Additionally, escalating Middle East tensions are driving up oil costs, with a sharp increase in fuel prices projected for October.

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