Borrowers face another 75 basis point repo rate hike this week, as inflation looks to stay uncomfortably high
The volume of new mortgage applications reached multi-year highs amid record low interest rates
The monetary policy committee has voted to lift the repo rate by another 25 basis points as advanced economies mull policy tightening
Elevated inflation has become a stubborn feature of the global economy’s recovery from the Covid-19 slump and central banks have been forced to react
Critics have said the repo rate hike will jeopardise already sluggish economic growth, but others say the gradual increase will have little effect
The decision to hike the repo rate by 25 basis points comes in the wake of red-hot inflation in advanced economies and fears policymakers will start to dial back on accommodative measures
In South Africa, a strong trade surplus, buoyed by robust commodity prices, will cushion our economy against pressure arising from US policy