Inflation is rising and the repo rate is likely to follow, up 75 basis points

Inflation picked up again today and the repo rate is expected to follow suit on Thursday with a rise of 75 basis points on the eve of Black Friday and hopefully consumers will refrain from buying credit to avoid falling victim to the interest rate crisis. According to economic research group Oxford Economics Africa, October headline inflation was slightly higher-than-expected at 7.6% compared to October 2021, basically shattering expectations of a 50 basis point rate hike and supporting the group’s forecast for a 75 basis point hike . While the group expects price inflation to remain at elevated levels above…

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