SARB hikes interest rate by 25 basis points to 7.25% (full speech)

With South Africa experiencing rolling power cuts and global recession fears, the South African Reserve Bank held the first Monetary Policy Meeting for the year and raised its main lending rate by 25 basis points to 7.25 per cent. Lesetja Kganyago, Governor of the South African Reserve Bank explains the reasoning and outlines the country’s growth outlook.