Repo rate increases by 75-basis points
LOCAL Reserve Bank Governor Lesetja Kganyago announced a 75-basis point rate hike effective from Friday. This takes the repo rate to seven percent and the prime lending rate to 10.5 percent Economist Goolam Ballim says that the fact that two members of the Monetary Policy Committee (MPC) were more inclined to a 50- basis point rate hike, signals a division in the MPC. The committee based its rates decision on […]
