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
27 March 2022 - 07:06
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. ..
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