Standard Bank raises the alarm as inflation and rates hit consumers
Earlier hopes of the pressure easing this year have receded, it says in a trading update
20 June 2023 - 09:35
UPDATED 20 June 2023 - 19:57
The financial pressures on consumers and businesses due to high inflation and interest rates have been laid bare in a Standard Bank trading update.
In its update for the five months ended May released on Tuesday, Africa’s largest lender by assets said earlier hopes of inflation easing this year had receded. “Expectations are now that inflation and interest rates will be higher for longer and that economic growth will remain constrained,” it said...
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