Reserve Bank repo rate decision on Thursday

JOHANNESBURG - There may be even more pressure on your wallet soon.

Economist Bonke Dumisa says the Reserve Bank is likely to increase the repo rate by 25 basis points.

It's expected to announce its interest rate decision on Thursday.

READ: Repo rate | Struggling consumers urged to consider downsizing

The repo rate currently stands at 8.24 percent, the highest in 14 years.

"The Reserve Bank has been using only one tool and that is the repo rate increase or decrease," Dumisa said.

"But they have been punishing consumers some time for imported inflation. For some months now, Brent crude oil has been going down significantly.

"I see the Reserve Bank increasing the repo rate by not more than 25 basis points."