Why are Interest Rates in SA so High?
What is the reason for the prime lending rate in South Africa being so
high? (10.5%) In the US it's 3.25%, in Canada it's 2.25% and in Australia it's at
3.75% (considered very high). Is it perhaps just a symptom of not having enough banking competition in SA? And wouldn't we have much faster economic development in SA if we had
lower interest rates (closer to 5%) backed up by "good" regulation
such as the National Credit Act?
high? (10.5%) In the US it's 3.25%, in Canada it's 2.25% and in Australia it's at
3.75% (considered very high). Is it perhaps just a symptom of not having enough banking competition in SA? And wouldn't we have much faster economic development in SA if we had
lower interest rates (closer to 5%) backed up by "good" regulation
such as the National Credit Act?
