DStv Channel 403 Saturday, 13 April 2024

Interest rates | SARB remains long-term focused

Reserve Bank Governor Lesetja Kganyago says South Africans will benefit later from their tough stance now.

JOHANNESBURG - The Reserve Bank has raised interest rates by another 50 basis points.

This puts the repo rate at 8.25 percent and the prime lending at 11.75 percent.

READ: SA Reserve Bank hikes rates again

The Monetary Policy Committee was unanimous on this decision.

Stubbornly high inflation, with persistent power cuts, was a key factor.

READ: Interest Rates | Inflation eases but another rate hike likely

Reserve Bank Governor Lesetja Kganyago says South Africans will benefit later from their tough stance now.

Meanwhile, the SARB says it takes into account the impact higher interest rates have on South Africans.

But it remains long-term focused.

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