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SARB raises interest rates by 50 basis points - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.

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The Reserve Bank’s Monetary Policy Committee has adopted an aggressive rate stance by hiking lending rates by 50 basis points on Thursday.

The decision will take the repo rate at which the Reserve Bank provides short-term money to local banks to 4.75%.

Reserve Bank governor Lesetja Kganyago says that despite the hike – monetary policy in the country remains accommodative. The bank has revised its growth forecast to 1.7% from 2%.South African Reserve Bank MPC announces interest rates:

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My heart bleeds out for consumers who are paying house bonds and car installments.💔 Everything is going up yet the salaries of consumers remains the same. MPC reporate reporate SARB

Yhu hay niyasiqhela kodwa

Go tla hwiwa

Mxm

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