TechCentralTechCentral
    Facebook Twitter YouTube LinkedIn
    Facebook Twitter LinkedIn YouTube
    TechCentral TechCentral
    NEWSLETTER
    • News

      Huge Group to acquire what was Virgin Mobile in South Africa

      6 July 2022

      TechCentral needs your feedback – 2022 reader survey now live

      6 July 2022

      Call for ‘energy emergency’ to end load shedding

      6 July 2022

      What South Africa can learn from India’s IT boom

      6 July 2022

      Where to next for Dimension Data

      5 July 2022
    • World

      China accuses US of ‘technological terrorism’

      6 July 2022

      Apple devices to get ‘Lockdown Mode’ to fight spyware

      6 July 2022

      Scientists at Cern observe three ‘exotic’ new particles

      6 July 2022

      Bitcoin’s first African adopter plans own digital currency

      6 July 2022

      Bitcoin hints at a bottom – but it may be different this time

      5 July 2022
    • In-depth

      The bonfire of the NFTs

      5 July 2022

      The NFT party is over

      30 June 2022

      The great crypto crash: the fallout, and what happens next

      22 June 2022

      Goodbye, Internet Explorer – you really won’t be missed

      19 June 2022

      Oracle’s database dominance threatened by rise of cloud-first rivals

      13 June 2022
    • Podcasts

      Demystifying the complexity of AI – fact vs fiction

      6 July 2022

      How your organisation can triage its information security risk

      22 June 2022

      Everything PC S01E06 – ‘Apple Silicon’

      15 June 2022

      The youth might just save us

      15 June 2022

      Everything PC S01E05 – ‘Nvidia: The Green Goblin’

      8 June 2022
    • Opinion

      South Africa can no longer rely on Eskom alone

      4 July 2022

      Has South Africa’s advertising industry lost its way?

      21 June 2022

      Rob Lith: What Icasa’s spectrum auction means for SA companies

      13 June 2022

      A proposed solution to crypto’s stablecoin problem

      19 May 2022

      From spectrum to roads, why fixing SA’s problems is an uphill battle

      19 April 2022
    • Company Hubs
      • 1-grid
      • Altron Document Solutions
      • Amplitude
      • Atvance Intellect
      • Axiz
      • BOATech
      • CallMiner
      • Digital Generation
      • E4
      • ESET
      • Euphoria Telecom
      • IBM
      • Kyocera Document Solutions
      • Microsoft
      • Nutanix
      • One Trust
      • Pinnacle
      • Skybox Security
      • SkyWire
      • Tarsus on Demand
      • Videri Digital
      • Zendesk
    • Sections
      • Banking
      • Broadcasting and Media
      • Cloud computing
      • Consumer electronics
      • Cryptocurrencies
      • Education and skills
      • Energy
      • Fintech
      • Information security
      • Internet and connectivity
      • Internet of Things
      • Investment
      • IT services
      • Motoring and transport
      • Public sector
      • Science
      • Social media
      • Talent and leadership
      • Telecoms
    • Advertise
    TechCentralTechCentral
    Home»News»Reserve Bank hikes interest rates

    Reserve Bank hikes interest rates

    News By Agency Staff23 July 2015
    Facebook Twitter LinkedIn WhatsApp Telegram Email

    inflation-640

    The South African Reserve Bank’s monetary policy committee hiked the repo rate by 25 basis points to 6%/annum, effective from 24 July 2015, its governor Lesetja Kganyago announced on Thursday.

    Banks will raise their prime lending and variable mortgage interest rates by the same magnitude to 9,5% per annum, according to Jacques du Toit, a senior economist at Absa.

    “The Reserve Bank remains concerned about the outlook for economic growth that is constrained by severe electricity shortages, low levels of consumer and business confidence, inflationary pressures and the possibility of rising interest rates in the US,” he said.

    “The forecast is for interest rates to be hiked again later in the year and through the course of 2016 in an attempt to contain inflation,” said Du Toit.

    “Consumers with debt will thus be affected by rising debt repayments as a result of the higher interest rates, which will further add to their financial strain.

    “Banks will continue to monitor economic and consumer-related trends in decisions regarding risk appetite and lending criteria, which will affect the accessibility and cost of credit,” he said.  — Fin24

    Absa Jacques du Toit Lesetja Kganyago Reserve Bank Sarb
    Share. Facebook Twitter LinkedIn WhatsApp Telegram Email
    Previous ArticleAltron gives up on the Altech Node
    Next Article Thousands sign anti-censorship petition

    Related Posts

    Huge Group to acquire what was Virgin Mobile in South Africa

    6 July 2022

    TechCentral needs your feedback – 2022 reader survey now live

    6 July 2022

    Call for ‘energy emergency’ to end load shedding

    6 July 2022
    Add A Comment

    Comments are closed.

    Promoted

    Hot Ink certifies and diversifies to maintain competitive printing edge

    5 July 2022

    Increased flexibility with Dell Precision Mobile Workstations

    5 July 2022

    The 5 secrets of customer experience in the cloud era

    5 July 2022
    Opinion

    South Africa can no longer rely on Eskom alone

    4 July 2022

    Has South Africa’s advertising industry lost its way?

    21 June 2022

    Rob Lith: What Icasa’s spectrum auction means for SA companies

    13 June 2022

    Subscribe to Updates

    Get the best South African technology news and analysis delivered to your e-mail inbox every morning.

    © 2009 - 2022 NewsCentral Media

    Type above and press Enter to search. Press Esc to cancel.