MPC: Consumers face a perfect storm of rate, fuel and food increases
MPC's vote to raise rates seen as sign of a more hawkish stance at Reserve Bank
Consumers will pay more for home loans, vehicle finance and credit cards after the central bank this week hiked the repo rate and further increases expected this year — along with food and fuel price rises — will add to the burden.
The Reserve Bank’s monetary policy committee raised the repo rate by 25 basis points to 4.25%, marking the third consecutive increase since November 2021 when it embarked on a hiking cycle to keep inflation in check. ..