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Traders cut South Africa rate-hike bets after Iran peace deal
Traders cut South Africa rate-hike bets after Iran peace deal Traders have scaled back bets on additional South African interest-rate hikes after a US-Iran peace deal sent oil prices tumbling, potentially reducing inflationary pressures. Forward-rate agreements are now pricing in 15 basis points of tightening at the South African Reserve Bank's July 23 policy meeting, down from 30 basis points a week ago. The contracts are pricing in a total of 32 basis points of rate hikes this year, compared with 70 basis points a week ago. Policymakers last month raised borrowing costs by 25 basis points…
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