SARB hikesc interest rates by 75 basis points.

--:--

The South African Reserve Bank has hiked interest rates by 75 basis points, taking the repo rate to 6.25% per annum – returning to pre-Covid-19 levels.
The decision on rates was not unanimous, with three members voting for the announced 75 basis point hike, while two members preferred a rate hike of 100 basis points.
The hike is the second consecutive upward rate adjustment of 75 basis points. “The level of the repurchase rate is now closer to the level prevailing before the start of the pandemic,” the bank said. Rates are now at the same levels as January 2020, before hard lockdowns hit the economy.

22 Sep 2022 5AM English South Africa Business News · Investing

Other recent episodes

SARB’s interest rate pause provides relief, but MPC will remain alert to inflation risks, says FNB

GUEST – Mamello Matikinca-Ngwenya - FNB Chief Economist Following the South African Reserve Bank’s (SARB) decision to keep its benchmark repo rate unchanged, FNB will keep its prime rate at current levels and will review this position after the next SARB MPC meeting in November. FNB Chief Economist Mamello Matikinca-Ngwenya…

21 Sep 5PM 8 min

Stats SA asks that people participate in the 'Income and Expenditure' survey

GUEST - Werner Ruch: Project director for the Income and Expenditure survey Household income and expenditure surveys are an essential component to a healthy data ecosystem and critical for economic and developmental planning and decision-making. Statistical agencies like Statistics South Africa (Stats SA) use these surveys to inform the measurement…

21 Sep 5PM 12 min

Black property professionals suffering because of building hijackings

GUEST – Kululwa Muthwa – CEO of The South African Institute for Black Property Professionals (SAIBPP) The South African Institute for Black Property Professionals (SAIBPP) is “gravely concerned” about the high costs associated with the continued hijacking of buildings in the country’s CBDs. This act of criminality, it says, costs…

21 Sep 5PM 16 min

PIVOT POINT - In conversation with young trailblazer, Mishaya Chettiar, Executive Head: Everything.Insure

Mishaya Chettiar is Executive Head at Everything.Insure, an insuretech start-up working to revolutionise the insurance industry and demystify insurance for the country's consumers. This month Mishaya was awarded the Forty under Forty award for the nations most accomplished business leaders in the insurance category because of her work in driving…

21 Sep 4PM 22 min

OPINION | The SA taxi industry is worth billions. Why is it paying so little tax?

GUEST - Mbavhalelo Mabogo is CEO and Founder, Quickloc8 The South African taxi industry, a cornerstone of the nation's transport landscape, has long been under scrutiny for its apparent underpayment of taxes. However, a closer examination reveals a more complex reality. In 2021, the industry paid only R5 million in…

20 Sep 5PM 9 min

All episodes