Decision to raise interest rate conveys strong message on dealing with inflation
“In line with market expectations, the Monetary Policy Committee (MPC) in a majority vote of three to two raised the repo rate by another 75 basis points, with a minority view favouring a 50 basis-point increase.”
Prof Raymond Parsons, economist from the Business School of the North-West University (NWU), says the statement and decision by the MPC on 24 November conveyed a further strong message about how the South African Reserve Bank (SARB) intends dealing with inflation in South Africa.