Explore the Category
The South African Reserve Bank (SARB) Monetary Policy Committee (MPC) opted to hike the repurchase rate by 75 basis points (bp) to 7.00% today.
A 75bps hike in the repo rate was to be expected, given yesterday’s higher inflation print of 7.6% and a rise in core CPI - showing that inflation is becoming broad-based.
Following the South African Reserve Bank’s (SARB's) decision to increase its repo rate by 0.75%, FNB will raise its prime lending rate by 0.75%.
The Monetary Policy Committee (MPC) decided to increase the repo rate by 75 basis points to 7.0%. Short-term interest rates have now increased by 3.5% since the low of 3.5% and are now higher than the repo rate level before the start of the pandemic.
If you had to hazard a guess, when do you reckon the COFI Bill will be signed into law?