Repo rate hike: It may be time to take a financial health day | The Citizen

Last week proved just how rough it has been to be South African, with hits that keep on coming.

“As was expected by the market, the Monetary Policy Committee the repo rate is to increase by 75bps from the current 5.5% to 6.25%. This would result in the prime interest rate increasing to 9.75% from the current 9%. “If you haven’t yet, now is the time to really get your financial affairs in order,” Hayley Parry, money coach and facilitator at 1Life’s Truth About Money advised.

Tertia Jacobs, treasury economist at Investec, said the repo rate hike was actually in line with market expectations.

Source: Healthcare Press (healthcarepress.net)

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