Economists Now Predict Two More Rate Hikes

A month ago 9 out of 10 economists were predicting no interest rate hikes. Then Tito hiked the rate 50 basis points and now all of a sudden:

12% prime rate looming: survey
Economists have reconsidered most of their key economic forecasts over the past month, according to the latest Reuters Econometer survey.

The central view of the fourteen economists surveyed is that the Reserve Bank could lift interest rates at least twice more, taking prime rate to 12% by the first quarter of next year. The rand-dollar rate could reach R7,40 by the end of next year.

Oops.