Hard Times Ahead for South Africans After Rate Hike

Lesetja Kganyago, Governor of the South African Reserve Bank, has announced that the repo rate will rise from 6.5% to 6.75%. The decision was not made lightly, Kganyago said, as three of the bank's monetary policy committee preferred an unchanged stance while three others voted for a 25 basis point hike.



Photo: GCIS

Governor of the South African Reserve Bank Lesetja Kganyago (file photo).

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