South Africa News: Banks Told to Cut Borrowing Costs

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South African banks are facing political pressure to adjust the rate they use as a reference to determine interest charges after measures to contain the coronavirus roiled the economy, according to the nation’s bank regulator.

The so-called prime lending rate is set at 350 basis points above the repurchase rate determined by the South African Reserve Bank’s monetary policy committee. Riskier borrowers would be penalized by being…

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A free-thinking individual who strives to maintain psychological balance between the two polar aspects of Human Nature; Desire and Conscience. However, These conditions can never be balanced because inertia will carry us to extremes. Balance is a constant struggle therefore I live by the principles of the HERU Interface