Economists point out that the Middle East conflict is putting significant pressure on the South African economy, and the South African Reserve Bank has responded by raising interest rates.

The current turmoil in the Middle East is having a negative impact on many areas, including global energy supply and economic activity. According to economist Peter Bauer from the University of Johannesburg in South Africa, the country is already experiencing rising fuel prices and increased living costs. To cope with this inflationary pressure, the South African Reserve Bank has recently officially announced an interest rate hike to stabilize the economic impact caused by the rise in prices.