Bank of Japan Likely to Delay Rate Hike Until July as Economists Eye 1% by September 
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The biggest hurdle in front of SARB is lower forex reserve which is just over USD40bn only and ZAR weakness.
- The weakening of the National Treasury leaves the SARB to lower its interest rates.
- In general Central bank cannot really prevent currency depreciation but can try to moderate the effects of a weak ZAR on inflation this only reason SARB hiked its policy rate in both 2014 and 2015.
- The downside pressure on the ZAR clearly increases the pressure on the SARB to tighten further.
- ZAR extends losses against dollar to 1.7 percent, reaches new record low of 16.1300 on Thursday during European hours.
