National
Comment: Interest rates hike announcement─── 16:10 Wed, 29 Jan 2014
Christopher Motabogi
Bloemfontein - Today’s hiking of interest rates is an indication that the Reserve Bank is willing to act decisively when necessary.
So says Unisa Economics Professor, Jannie Rossouw, responding to Governor Gill Marcus's announcement that the interest rates would increase by 50-basis points.
Rossouw says interest rates have been on a historic low for many months with the danger of inflation pressures developing.
"It's appropriate for the Reserve Bank to take timely action and make sure that monetary policy remains appropriate for our current circumstances. It's also interesting to note that this is the first time that the Reserve Bank increases interest rates under the stewardship of Ms Marcus as its governor" says Rossouw.
"It's appropriate for the Reserve Bank to take timely action and make sure that monetary policy remains appropriate for our current circumstances. It's also interesting to note that this is the first time that the Reserve Bank increases interest rates under the stewardship of Ms Marcus as its governor" says Rossouw.