Another Repo Rate Hike
Written by Mfundo on 25 March, 2022
By: Bright Ntuli
South African Reserve Bank Governor Lesetja Kganyago has announced the repo rate will increase by 25 basis points.
The repo rate is the rate at which the South African Reserve Bank lends money to commercial banks in South Africa.
This means consumers will pay more for their debt, but earn more interest on your savings.
Kganyago has cited inflation and the war in Ukraine as the biggest threats.
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