Economists are predicting another rate hike, after six increases to the repo rate in 2022.
Economist Dale McKinley said that the country’s Monetary Policy Committee (MPC) needed to adopt a better fiscal policy that would accommodate the public.
His remarks come as the committee enters day two of its three-day meeting before Friday’s announcement of an interest rate decision.
Economists are predicting another rate hike, after six increases to the repo rate in 2022.
The experts are split between a 25 and 50 basis point increase.
McKinley said that this policy hurts the public.
“While oftentimes the debate about these Monetary Policy Committees is simply about how much is going to be raised, or the basis points, and how inflation is going to be contained or not, I think our debate needs to encompass more social components to it as opposed to businesses and those that are able to access credit.”
By: Gloria Motsoere
For more information visit: ewn.co.za
Comments