The South African Reserve Bank has hiked rates for the tenth consecutive time.
The South African Reserve Bank’s Monetary Policy Committee has elected to hike South Africa’s interest rates by another 50 basis points. The decision was unanimous.
According to Reserve Bank governor Lesetja Kganyago, the move to hike rates comes amid persistently high consumer price inflation and a sluggish economy – exacerbated by severe load shedding. Economic growth has been volatile for some time, and prospects for growth remain uncertain, the governor said, adding that an improvement in logistics and a sustained reduction in load-shedding, or increased energy supply from alternative sources, would significantly raise growth.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Reserve Bank hikes interest rates by 50 basis pointsSouth Africa’s central bank delivered it’s tenth straight interest rate hike, and the first back-to-back half-point increase since 2008.
Read more »
When politics drive inflation- a headache for the Reserve Bank | City PressDespite the latest decline in CPI, inflation remains tilted to the upside, with the effects of the politics-driven weakening rand still to be felt in the next quarters. Does SA's government have the political will to self-correct?
Read more »
SAFTU to picket against expected repo rate hikes - SABC NewsThe South African Federation of Trade Unions (SAFTU) is due to hold a picket outside the Reserve Bank on Thursday. The Bank is expected to hike the country's repo rate when it makes its announcement on interest rates this afternoon.
Read more »
CLAIRE BISSEKER: More rate hikes reflect the government’s failures, not the Bank’sThe central bank is just as exasperated as the rest of us over the severe lack of nous
Read more »
MARKET WRAP: JSE slides as US debt-ceiling talks grind onRand adds to earlier gains against the dollar with the Reserve Bank almost certain to hike rates on Thursday
Read more »
Inflation: Milk, eggs and cheese prices sky rocket to its highest in 14 years | The CitizenThe cost of everyday essentials like milk 🥛eggs 🥚and cheese 🧀 is soaring to its highest level in 14 years! 💸 Brace yourselves for the impact of skyrocketing prices 😱 CostOfLivingCrisis inflation TheCitizenNews Find out here⬇️
Read more »