There may be even more pressure on your wallet soon. Economist Bonke Dumisa says the Reserve Bank is likely to increase the repo rate by 25 basis points.
It’s expected to announce its interest rate decision on Thursday The repo rate currently stands at 8.24 percent, the highest in 14 years. The Reserve Bank has been using only one tool and that is the repo rate increase or decrease,” Dumisa said.
“But they have been punishing consumers some time for imported inflation. For some months now, Brent crude oil has been going down significantly. I see the Reserve Bank increasing the repo rate by not more than 25 basis points.
Source: eNCA
In other news – Drake Pleads With J. Cole For An Album Feature During Montreal Tour Stop
Drake has become one of the top artists in the world over the last decade, but that doesn’t mean he’s above asking for a musical favor — especially if it’s from a worthy individual.
During the 6 God’s Montreal, Canada stop of his It’s All a Blur Tour on Saturday (July 15), he once again surprised the crowd by bringing out J. Cole as a surprise guest, much like he did the previous night. Learn more
