This follows the increase of repo rate which increased by 50 basis points.
JOHANNESBURG - Some economists have warned that the South African Reserve Bank has little room for mistakes in monetary policy following a bold move to increase the repo rate by 50 basis points.
The repo rate sits at 7.75% while the prime lending rate sits at 11.25% following Thursday's announcement. Nedbank economist Isaac Matshego said while he expected an increase in the repo rate, he was surprised by the hawkish tone.While there have been expectations for the bank to take more drastic measures to revive growth, including calls to lower interest rates, Matshego said the central bank could afford to sacrifice economic growth while it tried to bring inflation down.
Efficient Group economist Dawie Roodt said the government's inefficient macro-economic policies are to blame.
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