South Africa's recent interest rate hikes exacerbate the struggles of millions facing unemployment and economic despair, highlighting the disconnect between policy decisions and the realities of everyday life.

South Africans may face higher home loan and borrowing costs as economists increasingly expect the South African Reserve Bank to raise rates this week.

South Africans could face higher borrowing costs this week as expectations mount that the South African Reserve Bank will raise interest rates following a rise in inflation to 4%…