Debt Rescue SA disagrees with Reserve Bank’s decision to keep the interest rates unchanged

Debt counselling firm, Debt Rescue SA said that it disagrees with the Reserve Bank’s decision to keep the interest rates unchanged.

It warns that many households will be devastated by already high borrowing costs and looming increases in electricity and fuel prices.

It said that the imminent electricity tariff hike will further erode disposable income.

The company’s Annaline van der Poel said that any hopes consumers may have for some relief should be delayed.

"The reality is that consumers are facing a prolonged period of financial pressure with very little relief in sight, and that is where the real concern lies."