Interest rates rise for the first time in 14 years
Thursday, April 28, 2022 | 4980 Views |
BoB governor, Moses Pelaelo PIC: THALEFANG CHARLES
The increase is the first in the country since 2008, from which point interest rates had gradually been declining to the current record low levels.
The increase, announced after a Monetary Policy Committee meeting yesterday, means any borrowers whose loans are not on a fixed rate will pay more for their repayments or new loans with immediate effect. The increase also means marginally improved rates on deposits.
It highlights the need to protect rights such as access to clean water, education, healthcare and freedom of expression.President Duma Boko, rightly honours past interventions from securing a dignified burial for Gaoberekwe Pitseng in the CKGR to promoting linguistic inclusion. Yet, they also expose a critical truth, that a nation cannot sustainably protect its people through ad hoc acts of compassion alone.It is time for both government and the...