(Bloomberg) --
Markets are betting against the South African Reserve Bank's forecasts when it comes to the benchmark interest rate. Forward-rate agreements, used to speculate on interest rates, predict a 68 percent chance of a 25 basis-point decrease in borrowing costs by year-end. That's despite the central bank's quarterly projection model implying an increase of the same magnitude to 7 percent in 2019.
To contact the reporter on this story: Prinesha Naidoo in Johannesburg at pnaidoo7@bloomberg.net
To contact the editors responsible for this story: Rene Vollgraaff at rvollgraaff@bloomberg.net, Ana Monteiro
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