South Africa
Analysts expect interest rate hike─── 07:21 Thu, 27 Jan 2022
Image: Investopedia
Prepare for your home and car loan repayments to start rising.
The Reserve Bank is expected to hike interest rates on Thursday.
If this happens, it will take the prime lending rate at banks to 7.5 percent.
While higher interest rates can stifle consumers and economic activity, the Reserve Bank is mandated to tame price rises.
Higher inflation, which has been creeping into the economy, supports the case for the Reserve Bank to increase rates.
