JOHANNESBURG - South Africans can expect loan repayments to swell further as they enter the new year.
While analysts say the Reserve Bank is not done raising interest rates just yet, the hiking cycle is close to ending.
Governor Lesetja Kganyago says if the bank doesn’t act with interest rates, steep price increases will continue and South Africans won't be able to afford the basics.
But the middle class -- those with mortgages and vehicle loans -- are suffocating as interest rates rise.
So what can we expect in 2023?
Rates are widely expected to be hiked by smaller margins at the start of the year and then remain steady in the months ahead.
* eNCA Business Editor Devan Murugan reports.