‘Economic madness’ to hike borrowing costs, experts warn
Reserve Bank gets flak for rate decision — but some call it the right move
24 July 2022 - 06:08
Poverty alleviation groups, Cosatu and some economists have condemned the decision by the central bank to hike borrowing costs, in one case calling it “economic madness”.
But others noted that while the middle class was going to feel the pain of higher debt repayment costs, raising interest rates could help protect the poor from soaring prices brought about by rampant inflation...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.