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Finance News

The SA Reserve Bank did as expected in March 2024 and decided to hold the Repo Rate stable at 8.25% for the next while.

The SARB Monetary Policy Committee held firm to their goal of forcing inflation down using high interest rates and copied many other policy bodies around the globe in holding rates stable.

What does this mean?

It means that consumers repaying debt will have to keep paying high interest rates towards their debts with more funds than ever going towards the interest portion of their debt.