Global recession imminent: Here’s what it will mean for South Africa

A global recession seems to be on the cards, which begs the question, what would this mean for South Africa? Central banks around the world are hiking interest rates to battle rising inflation, with recessions expected in the US, UK and Europe in the next year, while the Reserve Bank is also expected to increase the repo rate in South Africa by 75 basis points next week. Interest rates around the world are rising at an alarming pace, as central banks admit that inflation is becoming more ingrained, rather than just a series of transient shocks. For many, this feels…