“Hopes for an interest rate cut this year in South Africa — not to mention in the US and other major economies — have steadily

“The latest minutes from the United States Federal Open Market Committee (FOMC) have all but cemented a longer hold on interest rates in South Africa

Following a 3 day Monetary Policy Committee meeting, South African Reserve Bank governor, Lesetja Kganyago, has announced a rise in the interest rate of 0.75%. This pushes Prime to 9.75%.