INTEREST RATE HIKE
The Reserve Bank's Monetary Policy Committee has voted in favour of another 0.25% interest rate hike today. This brings that the prime lending rate is now 7.5%. Despite the increase, this still remains a competitive interest rate when compared to interest rates pre-Covid.
On a bond of R2 million at the prime interest rate, this means a monthly increase of approximately R300pm.
28 Jan 2022
Author Miltons Matsemela Inc.
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