Reserve Bank Faces Rate Hike Pressure from Global Central Banks

South Africa's Reserve Bank is expected to announce its decision on interest rates this week, following a wave of rate hikes by central banks globally. The US Federal Reserve raised its policy rate by 25 basis points last week, marking its first increase in three years.

The move has put pressure on South African Reserve Bank to follow suit, particularly with inflation data showing that annual inflation eased to 4.3 percent in July from a two-year high of 5 percent in June.

Despite the easing, both figures remain above the Reserve Bank's 3 percent inflation target.