More financial pain for consumers as Reserve Bank hikes interest by 75bps.
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The SA Reserve Bank's Monetary Policy Committee on Thursday hiked interest rates by 75 basis points, adding three quarters of a percentage point to what just about everyone pays on their debt.
The big-jump increase in rates – the biggest single increase in interest rates since 2002 – comes just after Statistics South Africa announced the highest rate of consumer inflation South Africa has recorded in 13 years.
The big-jump increase in rates – the biggest single increase in interest rates since 2002 – comes just after Statistics South Africa announced the highest rate of consumer inflation South Africa has recorded in 13 years.
