In South Africa, along with our usual burdens, one of which is continued load-shedding, we also have to contend with seemingly ever-increasing interest rates. Last week, the South African Reserve Bank (SARB) elected to increase interest rates again. This was the seventh consecutive increase in the previous 12 months, leaving interest rates at pre-pandemic levels. So, what is driving their decision to increase rates, and how do these interest rate hikes ultimately affect us as consumers?

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