SARB HIKES RATES BY 25 BPS

by Thabile Manala 0

Governor of the Reserve Bank Lesetja Kganyago announces that the Reserve Bank will hike rates by 25 bases points.

South Africa’s Reserve Bank Lesetja Kganyago announced that the Bank will hike rates by 25 bases points. The repo rate will now be at 6% and prime repo at 9.50%. This will mean those with student, car and home loans will pay more, while those with savings accounts will get a better return on their investments.