Mudiwa Gavaza speaks to Annabel Bishop, chief economist at Investec
In this edition of Business Day Spotlight, host Mudiwa Gavaza is joined by Annabel Bishop, chief economist at Investec.
On Thursday, the Reserve Bank’s monetary policy committee lifted the repo rate 25 basis points to 7.25%. The central bank, like many others around the world, has hiked interest rates over the last year to combat inflation, which sits at 7.2%, well above the 3%-6% target range.Bishop says this could be the last rate increase as the Reserve Bank is seen to now be close to a peak. That said, another 25 basis points increase is still a possibility.
The economist explains what the decision means for consumers, how other countries have dealt with their interest rates and the effect of energy uncertainty on SA. The MPC expects the economy to grow 2.5% in 2022, compared with its previous prediction of 1.8% in November.
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