Repo rate up 25 basis points

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20 August - The Reserve Bank has hit out at ratings agency Moodys for clipping the wings of South Africas big four banks.?It follows this week's downgrade of Capitec's credit rating and the decision to place African Bank under curatorship.?

JOHANNESBURG - The Monetary Policy Committee has hiked interest rates by 25 basis points.

The rate at which the central bank lends money to commercial banks now sits at 6,25 percent.

The market had factored in a 25 basis point hike, with the US Federal Reserve also expected to increase interest rates in December.

In September, the central bank kept the repo rate at 6 percent, despite slow growth from China, and a weak local growth outlook.

The prime lending interest rate is now 9,75 percent.

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