SARB hikes the repo rate by 75 basis points to 5.5%
By Zuko Komisa The South African Reserve Bank (SARB) has announced that repo rate for South Africa has increased by 75 basis points (bps), which is the largest increase since September 2002. As a result, the prime lending rate for commercial banks in SA will rise to 9%. The news follows an announcement by Stats SA, which recorded the annual consumer price inflation at 7.4% for June - the highest […]