Author: Kalnisha Singh

Albert Einstein is rumoured to have said “Insanity is doing the same thing over and over and expecting different results”. Three months ago at an event hosted by Wits School of Governance – the last time the South African Reserve Bank increased interest rates – Governor Lesetja Kganyago asserted “We hear your cries… We do not derive joy from people losing their houses and their cars…”.  He further inferred that short-term “pains” are necessary to prevent the “erosion” of our income in the medium term. Today, the Governor has increased interest rates yet again – pushing our prime interest rates to…