Huge debt squeeze for consumers

Durban – Economists have urged South Africans to tighten their belts and brace themselves for a rocky year ahead with higher food and fuel prices set to hit pockets hard as the rand continues to wobble. And, rubbing salt in the wound, South Africans have also been warned to ready themselves for an interest rate […]

More interest hikes likely

THE Reserve Bank could this year be compelled to raise interest rates more frequently than last year to prevent the rand from pushing up prices, economists said. This trend could start at the Bank’s first meeting of the year at the end of this month. At 5.08pm on Monday, the rand was at R16.6565/$ after […]

‘SA facing currency crisis’

Johannesburg – A massive spike in the rand/dollar exchange rate in the early hours of yesterday is a sign of terrible things to come, according to economists. “We are in a bit of a currency crisis right now,” economist Mike Schussler told The Star. Just after midnight on Sunday the rand was trading at 17.91 […]