ANOTHER INTEREST RATE HIKE
Category General News
The trend continues. This afternoon The Governor of the Reserve Bank announced a 0,25% increase of the repo rate. This increases our prime overdraft rate to 7,75%. The increase was to be expected and further similar increases should be expected quarterly during the rest of the year. Even though it is going up, our interest rate is still below what we were paying prior to the lockdown, so we should continue to benefit for the time being.
Author: Miltons Matsemela Inc.
