The South African economy is still struggling and is in a technical recession since the beginning of the second quarter. The Reserve Bank held its last of six meetings this year, and had no choice but to raise interest rates by 0.25%. The lending rate to banks is thus increased to 6.75% and means that..
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Bad news for consumers before the festive season, Reserve Bank acknowledges SA’s inability and increases interest rates by 0,25% – people will have to tighten the belts this Xmas to not incur unnecessary debt
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