Marizka Coetzer
Journalist
2 minute read
5 May 2022
5:30 am

More financial woes await South Africans as Reserve Bank to decide on interest rate

Marizka Coetzer

North-West University Business School lecturer Piet Croucamp said it was getting harder for the poor, unemployed and the working class to cut costs and save money.

Picture - iStock.

South Africans may have to tighten their finance belts even more as experts expect the worst from the South African Reserve Bank’s monetary policy committee meeting this month to asses interest rates. North-West University Business School lecturer Piet Croucamp said it was getting harder for the poor, unemployed and the working class to cut costs and save money. “They usually spend 60% of income on transport and 30% on food. “The space to cut is already limited and the options to cut are at a minimum,” he said. ALSO READ: WEF predicts a bleak picture for SA’s economy Croucamp added...