As expected, the Reserve Bank's monetary policy committee has hiked the repo rate by another 25 basis points to 4.25%. This brings the prime rate to 7.75%. Three members of the committee voted for the increase, while two wanted a 50 basis point hike. On a new home loan of R2-million at the prime rate, the monthly payment will increase by around R300 following the rate hike. After the prime rate went from 10% in 2019 to 7% last year, the bank started to hike rates again in November last year, followed... Читать дальше...