Hello, sunshine! Summer is fast approaching and exploring the great outdoors is a part of many South Africans’ holiday plans.
South Africa wants to spend billions of dollars fostering an electric vehicle industry, complicating efforts to finalize an $8.5 billion climate aid package before next month’s United Nations climate summit.
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As economists expect another 75 basis point increase to already high-interest rates, the South African Reserve Bank (SARB) governor Lesetja Kganyago gives insight into what is forcing their hand.
South African borrowing costs will only be lowered when inflation’s retreat toward the midpoint of the central bank’s target range is sustained, Reserve Bank governor Lesetja Kganyago said.
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