Interest rates

Steyn, Greta
June 2008
Finweek;6/12/2008, p12
The article discusses the announcement of increasing interest rates by South Africa (SA) Reserve Bank Governor Tito Mboweni. The said increase has overdraft the country's prime rate to 17% which shocked the market, however, the markets now are pricing in a 100 basis points hike in the repo rate. Moreover, the rate is indicated through the gross domestic product growth, which declined to 2.1% in first quarter of 2006 from 5.3% in the final quarter of 2007.


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