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The Reserve Bank hiked interest rates by 75 basis points this week to 5.5%, bringing the cumulative hikes since it began increasing them from an all-time low of 3.5% in November 2021 to 200 basis points, two-thirds of the 300 basis points it cut when Covid-19 hit.

There are outcries from those who see the Bank as anti-development, anti-poor and antirevolutionary, as it is choking economic growth and job creation by hiking rates...

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