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(From Business Day (South Africa))
Byline: Lindsay Williams
Reserve Bank did not have much of a choice in raising rates LAST night Face to Face's spoke to Dawie Roodt of the Efficient Group about the South African Reserve Bank's decision to increase interest rates yesterday when it argued that it was better to rather stimulate local production than to strangle imports.
Dawie, do you share the sentiment expressed by Colen Garrow from Brait and me that the Reserve Bank's decision was a most extraordinary one and that it may be somewhat injudicious? No, I don't. We had a very strong suspicion that the Reserve Bank would increase interest rates. I think the new interest rate was the right thing to have done, but perhaps not for the right reasons. Bank governor Tito Mboweni …