Thursday, January 27, 2022 at 6:24 PMThe South African Reserve Bank has announced it will increase the prime lending rate banks charge to consumers and commercial businesses
The central bank's governor Lesetja Kganyago noted the rate hike comes amid global and local inflation price increases South Africans broke out in a frenzy on social media to react to the announcement of the expected interest rate hikePRETORIA - South Africans should make do with the Reserve Bank's decision to hike the repo rate by another 25 basis points to 4 per cent, upping the prime lending rate to 7.5 per cent.
Four out of five members of the central bank's monetary policy committee on Thursday voted for the increase,
Loans Loans Latest News, Loans Loans Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: eNCA - 🏆 49. / 51 Read more »
Reserve Bank delivers 'measured' rate hike to tame inflation risksThe South African Reserve Bank raised its main lending rate on Thursday in a 'measured' move it said should tame inflation risks, the second consecutive hike after slashing rates early in the COVID-19 pandemic.
Source: SowetanLIVE - 🏆 13. / 63 Read more »