Neil Roets, CEO of Debt Rescue, has cautioned that the sluggish tempo of rate of interest reductions is worsening the debt disaster for thousands and thousands of South Africans.
“Statistics replicate that the inflation price remained beneath the midpoint of the South African Reserve Financial institution’s (SARB) inflation vary of three% to six% for the fifth consecutive month in December 2024, and that it has stayed inside the vary for the final 19 months,” Roets stated.
Nonetheless, he stated that this doesn’t translate into reduction for customers. “Merely put, because of this the price of residing is rising at a slower tempo, nonetheless, this has no bearing on customers proper now, with the exorbitant costs for many meals and different residing prices persevering with to place insufferable monetary pressure on households.”
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