Reserve Bank signals sharper rate hikes ahead as it confronts inflation
Repo rate hike of 75 basis points is the Bank’s highest borrowing cost increase in two decades
21 July 2022 - 15:26
UPDATED 21 July 2022 - 23:32
The Reserve Bank surprised with the highest increase in borrowing costs in two decades, underlining governor Lesetja Kganyago’s determination to tame rampant inflation and also signalling an acceleration in the pace of interest rate hikes.
The Bank’s monetary policy committee (MPC) on Thursday raised the repurchase rate by 75 basis points (bps) to 5.5% from 4.75%...
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