‘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...
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