Traders are reducing their expectations for further interest-rate increases in South Africa after a US-Iran peace deal is reported as sealed. Multiple outlets say the announcement triggers a drop in oil prices, which in turn is expected to ease inflation pressures. With lower energy costs, traders anticipate that the need for additional monetary tightening may diminish. Bloomberg, News24, and Moneyweb all attribute the shift in market expectations to the same sequence: the US-Iran development improves the outlook for oil prices, and the lower oil price environment reduces concerns about inflation running higher than previously expected. As a result, rate-hike probabilities are adjusted downward, with News24 specifically noting the market now prices in only one more potential rate hike. The outlets do not provide details on whether the central bank has changed its policy stance, but they describe how traders’ forecasts for future moves are evolving in response to the new macroeconomic backdrop. The changes reflect updated expectations for inflation rather than a direct policy decision announcement from South African authorities.