JOHANNESBURG ( ENCA ) – 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.
The Monetary Policy Committee was unanimous on this decision.
Stubbornly high inflation, with persistent power cuts, was a key factor.
The Reserve Bank Governor, Lesetja Kganyago says South Africans will benefit later from their tough stance now.
