Mudiwa Gavaza speaks to Annabel Bishop, chief economist at Investec
In this edition of Business Day Spotlight, host Mudiwa Gavaza is joined by Annabel Bishop, chief economist at Investec.
On Thursday, the Reserve Bank’s monetary policy committee lifted the repo rate 25 basis points to 7.25%. The central bank, like many others around the world, has hiked interest rates over the last year to combat inflation, which sits at 7.2%, well above the 3%-6% target range.Bishop says this could be the last rate increase as the Reserve Bank is seen to now be close to a peak. That said, another 25 basis points increase is still a possibility.
The economist explains what the decision means for consumers, how other countries have dealt with their interest rates and the effect of energy uncertainty on SA. The MPC expects the economy to grow 2.5% in 2022, compared with its previous prediction of 1.8% in November.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
PODCAST | Behind the scenes of successful media buying in SAMudiwa Gavaza is joined by Mfundo Ntsibande, MD at AMA
Read more »
SARB expected to hike interest ratesThe Reserve Bank is expected to further increase interest rates on Thursday. Analysts say the central bank won't back down just yet on its hiking cycle, which began in November 2021.
Read more »
South Africa will only see growth of 0.3% this year, says Sarb | City PressAfter increasing the repo rate by 25 basis points to 7.25% on Thursday the Reserve Bank says it now expects South Africa’s economy to grow by a meagre 0.3% for 2023 because of load shedding.
Read more »
Saftu criticises Sarb's move to hike repo rate to 7.25%It's the eighth consecutive increase, which will see consumers pay more for their home loans, car finance and other debts.
Read more »
Sarb may be close to the end of its rates hike cycle, suggest economistsThe central bank hiked the repo rate by 25 basis points on Thursday, bringing it up to 7.25%. The prime lending rate now sits at 10.75%.
Read more »