South Africa’s inflation rate rose to a four-month peak, reinforcing the likelihood that the central bank will maintain the existing interest rates in the upcoming meeting. Market anticipations, as inferred from forward-rate agreements, suggest no expectations for an interest rate cut in the imminent March meeting, with a slight probability of a rate increase. However, projections are leaning towards a potential rate cut by July. The inflation upsurge to 5.6% YoY in February pushes the rate further from the bank’s 4.5% target midpoint, amplifying the focus on future monetary policy directions.