First Take SA

South African's should brace for another interest rate hike


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Indebted South Africans should brace themselves for another potential interest rate hike. This is as the South African Reserve Bank is expected to increase the country's repo rate as it makes its announcement on interest rates today. Economists anticipate that the Reserve Bank's Monetary Policy Committee will raise interest rates by anything between 25 and 50 basis points. So can South Africans survive another Interest hike? For more on this, Elvis Presslin spoke to Dr. Nyiko Maluleke, an Optometrist In Klerksdorp, in the North West for his personal experience with the recent rate hikes citizens have endured and the South African Federation of Trade Unions, SAFTU's General Secretary, Zwelinzima Vavi on the union holding a picket against the interest rate hike outside of the South African Reserve Bank today.

 

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