In case you missed it: SARB hikes interest rates by a further 0.75%

The Reserve Bank's monetary policy committee (MPC) has voted to increase the repo rate by another 75 basis points to 6.25%, with effect from the 23 September 2022. Three members of the Committee preferred the announced increase. Two members preferred a 100 basis points increase.

As a result of the hike, the prime lending rate will rise to 9.75% from 9.00%.

Read the full MPC statement

The next statement of the Monetary Policy Committee will be released on 24 November 2022.

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Managing Partner // Key Individual // Integrated Wealthcare Advisor // Personal Portfolio Manager (PPM)