The South African Reserve Bank's (Sarb) Monetary Policy Committee (MPC) hiked the repo rate by 25 basis points to 6% per annum, effective from 24 July 2015, its governor Lesetja Kganyago announced on Thursday. Banks will raise their prime lending and variable mortgage interest rates by the same magnitude to 9,5% per annum, according to Jacques du Toit, a senior economist at Absa. "The Reserve Bank remains concerned about the outlook for economic growth that is constrained by severe … [Read more...] about SARB increases repo rate by 25 basis points
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SARB urged to be ‘bold’
The SA Reserve Bank (Sarb) is caught between a rock and a hard place regarding the upcoming interest rates decision by its Monetary Policy Committee (MPC) on Thursday, according to George Herman, head of South African portfolios at Citadel Investment Services . Growth is under pressure and continuously being marked lower, whilst inflation is on the rise again. This stagflationary bind makes any one of three policy moves possible, but only one practical, he told Fin24. The Sarb could be … [Read more...] about SARB urged to be ‘bold’
