Consumers and homeowners are warned to brace for another dramatic interest rate hike by the Sarb.
JOHANNESBURG- With an announcement on the repo rate set for Thursday afternoon, some economists believe there could be another steep rise.The South African Reserve Bank 's Monetary Policy Committee is set to meet and deliberate on the rate before governor Lesetya Kganyago makes the announcement.
Earlier in November, Kganyago said there was still some room to raise the interest rates ahead of Thursday's announcement.It's understood the central bank will mainly consider the country's runaway inflation and other domestic factors.READ: SARB pleased its monetary policy softened covid-19 blow on households
"Our Reserve Bank continues to be concerned about higher inflation expectations," said FNB economist Koketso Mano.Econometrix economist Azar Jammine agreed: "As a consequence, the reserve bank will have second thoughts about being too lenient."
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