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The PSG Think Big Series, hosted by award-winning financial journalist Bruce Whitfield and top PSG executives, addresses burning issues that are concerning South Africans in these uncertain times.
Global growth is expected to remain above trend but is expected to slow from 2021’s strong rebound, with the Economic Cooperation and Development (OECD) forecasting 4.5% global growth in 2022, compared to its 5.6% expectation for 2021. South Africa’s anticipated slowdown is even more dramatic with just 1.7% growth expected in 2022 compared to 5.2% in 2021.
At the January meeting of the Monetary Policy Committee (MPC), South Africa’s repo rate was raised by another 25 basis points (bps) to 4.00%. This was fully priced in by the market beforehand and didn’t catch many off-guard.
Following the South African Reserve Bank’s (SARB’s) decision to raise its repo rate by 0.25%, FNB will lift its prime lending rate by 0.25% with effect from Friday 28 January 2022.
If you had to hazard a guess, when do you reckon the COFI Bill will be signed into law?