Possible 1% repo rate increase coming to punish your wallet

Hold your breath, consumers! A possible repo rate of 1% might be coming the back of even higher inflation. Some economists expect a 75 basis points hike in the repo rate, along with inflation for June that will cross the 7% line, far above the effective inflation target of 4,5%. Arthur Kamp, chief economist at Sanlam Investments, says the Monetary Policy Committee (MPC) of the South African Reserve Bank (Sarb) has plenty to think about this week before it decides on the repo rate, in a sea of uncertainty with growth forecasts revised lower. “Following a bumper gross domestic product…

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