Reserve Bank Governor Lesetja Kganyago said that high inflation, persistent load shedding, global geopolitical tensions, as well as elevated global price levels were the main drivers of the latest hike.
JOHANNESBURG - The Reserve Bank has increased the repo rate by a whopping 50 basis points, bringing it up to 7.75.
The central bank's monetary policy committee held a series of meetings this week before announcing their decision on Thursday afternoon.
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