South African Reserve Bank Governor Lesetja Kganyago said that the decision was the central bank's best way to counter rising inflation.
JOHANNESBURG - The South African Reserve Bank has hiked the repo rate by another 50 basis points on the back of high inflation and persistent load shedding.
JUST IN: The Reserve Bank has hiked the repo rate by 50 basis points - bringing it up to 7.75%. This is higher than most predictions. @khanya_mntambo pic.twitter.com/wGHUj4jJlHThis spells trouble for homeowners and other consumers in debt. "We are serious about tackling inflation and we have been taking steps since November 2021 to tackle inflation and today we have taken a further step."
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