South Africa: Even Tougher Times Ahead With Highest Interest Rate Hike In Nearly 20 Years ...Middle East

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South Africa: Even Tougher Times Ahead With Highest Interest Rate Hike In Nearly 20 Years
[allAfrica] Cape Town -- South Africans waited with baited breath once again in anticipation of the Reserve Bank's Monetary Policy Committee announcement on an interest rate hike on July 21, 2022. Everyone knew it was inevitable given the state of the world but few could have predicted a huge hike of 75 basis points, bringing the repo rate to 5.5% and the prime rate to 9%.

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