Markets see South Africa's central bank lifting rates by 50 bps

By Mfuneko Toyana JOHANNESBURG (Reuters) - South African bonds are still pricing in the first 50 basis point interest rate increase at a single meeting in two years this week, despite comments by the central bank governor suggesting he wants to keep to a path of gradual hikes. At last week's World Economic Forum in Davos, Governor Lesetja Kganyago conceded that South Africa's inflation outlook had deteriorated due to a sharp fall in the rand, but said this was something the bank had expected, pl