SARB increases repo rate by 25 basis points
The repo rate has been raised by 25 basis points. South African Reserve bank governor Lesetja Kganyago announced this on Thursday following a meeting of the Monetary Policy Committee (MPC)
He said there are serious concerns about economic growth with load shedding taking its toll.
“The MPC decided to increase the repurchase rate by 25 basis points to 7.25% per annum with effect from the 27th of January 2023. Three members of the committee preferred the announced increase [while] two members preferred a 50 basis points increase,” he said.
This means the prime lending rate is going to be 10.75%.
The South African Reserve Bank has announced an increase in the repo rate. pic.twitter.com/Kw5EqMrVPL
— Eyewitness News (@ewnupdates) January 26, 2023
Source: eNCA
In other news – Connie Ferguson’s ex-hubby, Neo Matsunyane bags a role on Kings of Joburg
Mzansi actress and businesswoman, Connie Ferguson’s ex-husband Neo Matsunyane is set to star in the second season of Netflix’s hit series Kings of Joburg dropping on Friday 27 January.
According to Zimoja Lezinto, Neo will appear in the first episode of the series and he was even present at the star-studded launch of the series in Rosebank, Johannesburg, on Saturday night. Learn more
