SARB hikes repo rate by 50bps
Kaya 959 Reporter On Thursday, the South African Reserve Bank (Sarb) increased the repo rate by 50 basis points (bps), the most since 2016. The hike, which brings the bank's benchmark rate to 4.75 per cent and commercial banks' prime lending rate to 8.25 per cent, was fueled by rising global inflation. Following the conclusion of the bank's May Monetary Policy Committee (MPC) meeting, SARB Governor Lesetja Kganyago announced the rate […]