Traders Trim South African Rate-Cut Bets After Inflation Slows

Traders trimmed bets that South Africa’s central bank will resume its interest rate-cutting cycle next month after inflation slowed less than expected.

Consumer prices rose 3.5% year-on-year, compared with 3.6% a month earlier, Pretoria-based Statistics South Africa said in a statement on its website on Wednesday. The median estimate of 15 economists in a Bloomberg survey was 3.4%.