Mike Schussler, an economist and founder of economist.co.za, said there was a strong possibility of another interest rate hike.
This would mean that cash-strapped consumers would struggle to repay monthly bond, vehicle and other financial agreements.
“Interest rate hikes are not good for consumers as it makes it difficult for people to repay their financial agreements. It is a tough time in our economy, and growth has already been downgraded by the finance ministry. Next year we could see another increase of 25 basis points because the current interest rate hike will lead to weaker growth,” he said.
Reserve Bank governor Lesetja Kganyago announced last week that the interest rate would be increased by 25 basis points....
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