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Interest Rate Rises In South Africa, Experts Evaluate Possibility Of Recession  | SA News

On Thursday, the South African Reserve Bank (SARB) announced its decision to increase the interest rate by 25 basis points to 7%, a week after year-on-year head inflation hiked to 4%, up from 3.1% in March.

Offering some optimism to the sour scenario, Richard Gaskin, Market Analyst at FP Markets, reminds FORBES AFRICA that while SARB’s decision will likely “keep interest rates higher for longer, they’re in line with the general global trend”. 

Endemic Species: The country is home to many endemic species, including the
Cape Mountain Zebra and the Knysna Lourie.

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  1. Fun South African Fact: The Karoo region in the Western Cape is home to some of the best fossils of early dinosaurs. In fact, it is estimated that some 80% of the mammalian fossils found to date were found in the Karoo.