South African interest rates expected to rise amid global inflation concerns

Lesetja Kganyago, governor of the South African Reserve Bank, will address the nation later today.

WITH the South African Reserve Bank set to announce an interest rate hike, experts weigh in on the implications for homeowners and the property market amidst global inflationary pressures.

South African property market consumers are told to expect that interest rates will go up on Thursday, May 28.

This is as South African Reserve Bank (SARB) Governor Lesetja Kganyago will deliver the Monetary Policy Committee statement.

South African consumers have been here before - it is an expected response to what is happening globally, in order to manage a broad set of complex factors, says Benay Sager, the Executive Head of DebtBusters.