Yires urged to tighten belts as rates go up by another 50 basis points
Yires are urged to tighten their belts after the South African Reserve Bank increased repo rates by 50 basis points to 8.25%. Reserve Bank Governor, Lesetja Kganyago, announced the Monetary Policy Committee's (MPC) decision in Pretoria this afternoon. This means Yires will now have to dig deeper in their pockets for their car and home loan repayments as the prime lending rate now sits at 11.75%. This is a 10th […]