SARB tightening and fiscal risks – BNY
BNY’s Bob Savage argues that South African Reserve Bank (SARB) is likely to lead emerging market tightening as South Africa reverses its easing path and hikes the repo rate back to 7.0%. The report notes improving inflows and mining-related support for South African Rand (ZAR), but stresses that higher U.S. yields and Fed policy set the bar, requiring more…











