An independent economist says the Reserve Bank will be punishing the wrong people if it raises interest rates again. ECRNewsWatch RateHike
It's expected to announce its decision on Thursday.Expectations are that it will be hiked by another 25 basis points this week.Economist Duma Gqubule feels for already financially-stretched consumers.
"I think this is a wrong move by the reserve bank to increase interest rates because Eskom has already done enough damage to the economy. So increasing interest rates is equivalent to a box and kicking an opponent who is on the floor.""Our economy has never been in such a terrible situation since 1994 and I don’t see why the reserve bank is increasing interest rates again.
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