Interest rate: Brace yourselves for a HIKE later this week – experts

Economists and analysts believe South Africans should brace themselves for yet another interest rate hike later this week as the South African Reserve Bank’s (SARB’s) Monetary Policy Committee meets over the next few days.

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Finder’s panel of 22 economists agree that an interest rate hike is coming, with the vast majority expecting a hike of 25 basis points when Reserve Bank governor Lesetja Kganyago makes the announcement on Thursday, 30 March.

Should a 25 basis points hike be announced, that would take the repo rate to 7.5% and the prime lending rate to 11%.

Roughly three-quarters of the panel (77%) think the rate will increase by 25 basis points while 14% say the rate will increase by as much as 50 basis points and another 5% by just 10 basis points.

Watch this space!

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