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JOHANNESBURG - High oil prices and a weak rand are fueling fears of more interest rate hikes.
Brent crude is hovering around $90 a barrel after Russia and Saudi Arabia announced production cuts.
READ: Markets mostly drop as oil spike fuels fresh inflation fear
The rand also weakened to above R19 to the dollar in the past week.
Consumers already pressured by fuel hikes are concerned about what this means for inflation.
The Reserve Bank will take this into consideration in its repo rate decision.