South Africans are urged to push through high interest rates that will ultimately assist consumers down the line.
Lesetja Kganyago, the governor of the South African Reserve Bank , says that the recent rate hike marks the beginning of restrictive monetary policy in the country.
These are the highest repo interest rate and prime lending rates since the global financial crisis in 2009. When questioned whether how long the policy will remain restrictive, Kganyago said that monetary policy has only just become restrictive, so it is difficult to say.
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