The Reserve Bank’s forecasting committee has decided to increase interest rates from 25 points for the third consecutive period since November last year. This takes the repo rate at 4.25% as well as the bank loan rate to 7.75%.
The bank says the current redemption rate reflects an acceptance policy that will stabilize the credit rating, while the economy continues to recover.
Bank of America Governor Lesetja Kganyago said three members of the committee voted for the announced increase and two members voted to raise the base by 50 percent and repo rate.
“Some risks in terms of inflation, such as food and fuel, have been identified, and other risks, such as currency fluctuations and capital fluctuations, have become well-established. Within this framework, The MPC decided to increase the redemption rate from the base base by 25 to 4.25% per annum, effective from the 25th of March 2022. The three members of the committee voted for the announced increase and the two members chose to raise the 50 basis. . “
Media forecast committee meeting:
Reserve Bank raises interest rates by 25 percent – SABC News
Source link Reserve Bank raises interest rates by 25 percent – SABC News