All eyes on Reserve Bank’s rates decision as consumers struggle
Already dealing with soaring food and transport prices, South African consumers await the next blow, the Reserve Bank’s latest repro rate decision.
The bank’s Monetary Policy Committee (MPC) is expected to announce its decision after its meeting on 21 July, and it appears the committee doesn’t have much room to manoeuvre.
Prof Waldo Krugell, an economist from the North-West University (NWU) Business School, says South Africa has experienced a surge in inflation that has businesses concerned and households under pressure.