Expect "Aggressive" Interest Rate Hikes

Ooops. Looks like local economists were caught napping again. Seems SA's trade deficit is worse than people were expecting... again!

This data shows that the structural imbalances remain very much intact but suggest that the South African Reserve Bank needs to hike more aggressively than we originally anticipated.

Okay we were expecting a 1%-2% rate hike by the end of the year before this news. Can we expect perhaps a 3% hike by the end of the year now?