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Consumers urged to use rate pause to tighten belts

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Cape Town - Consumers should use the small window of opportunity to build a solid financial foundation before interest rates rate go up again.

This is according to Ester Ochse, channel head at FNB Financial Advisory, in reaction to the SA Reserve Bank's (Sarb) decision on Thursday to leave the repo rate unchanged at 7%. This means the prime lending rate stays at 10.50%.

She said the breather in the interest rate hike cycle should be seen as an important catalyst for consumers who are committed to investing their way out of tough economic conditions.

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