It was a slightly grumpy governor Lesetja Kganyago who presented the monetary policy committee statement on Thursday afternoon, and who could blame him? The meeting must have been a tough one. And the big news wasn’t that the committee opted in the end to hike interest rates by 75 basis points, as widely expected. It was that two of the committee’s five members would have preferred a 100-basis-point hike.
That signals how concerned the Reserve Bank is about the outlook and the world in general, even if the latest inflation figures appear a little better than expected. With SA’s economy now expected to grow at just 1.9%, down from the Bank’s 2% forecast two months ago, such steep hikes must have been tough to contemplate, whether 100 or 75. And they would not normally be easy to justify given that the Bank has not changed its inflation forecast for 2022, which is still at 6.
We are led by fools
The last three months' rate hikes is definitely steep enough. It has killed the house sale market.
Hello everyone please do you know you can make up to $10,000 with the help of forex? Ask me how with the link 👇 👇👇 mgr_watt_fx
I know we all probably might have heard about Bitcoin but don't know how it works, I tried it in a week ago by a man who recommended me to Derrick_wright3 on Twitter he guides me through and i made a return of $10500 after a week of trading, connect with him
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Asian markets slump to two-year low as dollar soarsThe US Federal Reserve has flagged more interest rate hikes Dollar soars not even Euro and pound.
Source: BDliveSA - 🏆 12. / 63 Read more »
Cost of living is hurting economy, says Kganyago in defence of rate hikeHike of 75 bps takes rate back to pre-Covid level Proudly brought to us by ANC led government And reducing household’s ability to meet cost of leaving will curb inflation?
Source: BDliveSA - 🏆 12. / 63 Read more »
More rate hikes loom even as inflation slowsInflation in SA decelerated for the first time since January, a slowdown that’s unlikely to sway the central bank from delivering an unprecedented second consecutive 75 basis-point hike in interest rates. The central bank is going to make the inflation situation worse if they do that
Source: TimesLIVE - 🏆 28. / 59 Read more »
More rate hikes loom even as inflation slowsInflation in SA decelerated for the first time since January, a slowdown that’s unlikely to sway the central bank from delivering an unprecedented second consecutive 75 basis-point hike in interest rates.
Source: SundayTimesZA - 🏆 47. / 51 Read more »
Source: BusinessTechSA - 🏆 24. / 61 Read more »