South Africa’s higher interest rate to hurt credit dependent economy
219 views · Published 18 March 2016 · 2:52 · Indexed 20 September 2026
Channel: CGTN Africa · 2016 · News & Politics
Policy rates in South Africa have risen yet again, adding an extra burden for consumers. The cost of living in South Africa is rising, with price hikes for electricity, food, education and transport. Those who are currently servicing loans, are facing a much tougher future. The repo rate was hiked by one-quarter of a percent on Thursday, taking the prime lending rate to 10.5%.
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