Rapidly increasing interest rates are starting to bite This is likely to persist into the future. Class A Price Repo Rate
8
65.0
60.0
7
55.0
6
50.0
45.0
5
40.0
4
35.0
30.0
3
25.0
20.0
2
Class A Price
Repo Rate
Source: South African Reserve Bank, Absa AgriBusiness, and Absa Strategic Research, 2023 (Forecast respresented by dashed line).
Higher interest rates combined with pressures such as
energy and food costs
decreases in the carcass and calf prices weighing on consumers' disposable income have contributed to
19
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