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Quotes from RBS:
- The SARB chose to stay on hold despite persistently above target inflation, sharp Rand depreciation and growing risk of capital outflows driven by the Fed's 'impending' policy normalisation. Weak growth is forcing a flexible approach.
- We believe it will be under pressure to hike, soon and by more than what's currently priced-in as front end US rates gradually re-price towards the Fed's new and more hawkish "dots".
