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SARB to announce interest rate decision – SABC News

South African Reserve Bank (SARB) Governor Lesezha Kganja is expected to announce a decision on interest rates on Thursday afternoon, with many economists expecting a 0.5 percentage point hike.

The increase could raise the repo rate to 4.75% and increase the preferential loan rate the bank charges its customers to 8.25%.

South Africa is facing growing budget pressure as inflation crosses its 6% cap.

Stats SA reported on Wednesday that consumer inflation reached a 13-year high of 7.4%, a higher than expected figure.

However, the SARB was ahead of the US and European central banks in raising interest rates to contain inflation.

Why consumer inflation continues to rise:

SARB to announce interest rate decision – SABC News

Source link SARB to announce interest rate decision – SABC News

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