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South Africa

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Top stories from South Africa — politics, business, culture and more.

Homeowners feeling the heat as Reserve Bank bumps interest rates to 7%

Homeowners feeling the heat as Reserve Bank bumps interest rates to 7%

Life is about to get a little tighter for South African property owners and hopeful buyers. The Reserve Bank has pushed the repo rate to 7%, leaving households to navigate higher borrowing costs just as everyone was hoping for a bit of breathing room.