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Following the South African Reserve Bank’s (SARB’s) decision to raise its repo rate by 0.25%, FNB will adjust its prime rate by 0.25% with effect from Friday, 25 March 2022.
Soaring energy prices were already dominating news headlines before Russia – a key exporter of commodities - initiated a military attack on Ukraine. Energy inflation already rose prior to this conflict due to global supply chain bottlenecks caused by the pandemic.
The strongest deterrent against FSP compliance missteps is or should be: