South Africa Rate-Cut Bets Rise on ‘Game Changer’ Inflation

Traders raised bets that the South African Reserve Bank will extend its interest rate-cutting cycle on Thursday after inflation unexpectedly eased.

Consumer prices rose an annual 3.3% in August from 3.5% in the prior month, Pretoria-based Statistics South Africa said in a statement on Wednesday. Only two of 13 economists in a Bloomberg survey expected price growth to slow.