The South African Reserve Bank has decided to keep the repo rate unchanged at 8.25-percent. This means that the prime lending rate will remain at 11.75 percent. The move was expected by some economists after data from StatsSA yesterday showed that inflation dramatically eased to 5.4-percent in June from 6-point-3 percent in May.
Currently, the inflation rate is now below the central bank’s target ceiling of six-percent for the first time in 14 months.
The central bank has been relentless in hiking rates since November 2021 to contain price rises. While reserve bank governor Lesetja Kganyago indicated that inflation will continue to ease, he says the interest rate peak has not been reached.
Source: eNCA
In other news – Somizi’s Baby Mama Palesa Madisakwane decided to secure the bag with an office job
Somizi Mhlongo’s baby mama, actress and TV presenter Palesa Madisakwane, decided to work a nine-to-five job in order to sustain herself; this follows after the Covid-19 pandemic that left several South Africans out of jobs and struggling to make ends meet, ZiMoja reported.
Palesa Madisakwane whose best known for her former acting role on Generations as well as her presenter gig on Gospel Gold has now works a nine-to-five job as she chooses not to put all her eggs in one basket, the publication reported. Learn more
