Big interest rate hike expected this week

todayMay 24, 2023 47

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Big interest rate hike expected this week

Analysts speculate that interest rates will likely reach their highest point over a decade.
The South African Reserve Bank (Sarb) is expected to announce another interest rate hike of 25 or 50 basis points this week.
Experts say this will add more pressure on households as the cost of living continues to rise.
Citizens are advised to budget and save for coping with the unexpected.

Poultry producer warns of social unrest in SA as social tensions rise

The country’s largest poultry producer has sent out a warning to government that it could see social unrest soon.
Astral Foods says deteriorating municipal services and the country’s ongoing electricity crisis are making food insecurity and social tension meaningful threats.
Costs associated with power cuts, water issues, and feed led to an almost 90-percent drop in its interim profits.

MP’s welcome investigation into money spent on homes of ministers

Members of Parliament have welcomed the announcement that the Department of Public Works will investigate the money spent on the homes of ministers.
This follows weekend reports that the government has spent over 93-million rand on the homes of ministers in Pretoria and Cape Town.
The announcement was made by Minister of Public Works, Sihle Zikalala.

France bans domestic short-haul flights

France has banned domestic short-haul flights where train alternatives exist, in a bid to cut carbon emissions.
The law came into force two years after lawmakers had voted to end routes where the same journey could be made by train in under two-and-a-half hours.
The ban all but rules out air travel between Paris and cities including Nantes, Lyon and Bordeaux, while connecting flights are unaffected.

Written by: Keenan Williams

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