ISAAH MHLANGA: The Grinches who stole Christmas are central bankers after all
The Reserve Bank's raising of interest rates was logical and far from irrational
21 November 2021 - 08:06
The Reserve Bank’s interest rate hike this week of a quarter of a percent to 3.75% from an all-time low of 3.5% has angered many South Africans who feel their December has been ruined by higher interest costs.
To my surprise, some colleagues whom I expected to have better understanding of monetary policy said the decision was irrational. I have some sympathy for a ruined December but the decision was a matter of when, not if, and far from irrational...
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