Kaya 959 Kaya Biz

INSIDE YOUR POCKET: What to consider before taking loans in the new year.

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The South African Reserve Bank’s (SARB) recent decision to hike interest rates by 75 basis points to 7% for 2022 is the third consecutive hike by such a margin and the seventh hike in a row. The decision to increase the repo rate was mostly because the inflation rate has approached and reached the top of the inflation targeting band.

These hikes ultimately have an impact on consumers, and it is, therefore, important to be careful about spending this year.
12 Jan 2023 1AM English South Africa Business News · Investing

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