Standard Bank says the interest rate hike comes at a difficult time for farmers [SOUND]

# Standard Bank says the South African Reserve Bank’s decision to increase interest rates by 25 basis points comes at a difficult time, with farmers already facing higher fuel, fertiliser and other input costs. The rate increase is aimed at keeping inflation under control. Standard Bank’s Brendan Jacobs says continued uncertainty in global oil markets and the ongoing conflict in the Middle East are also contributing to rising costs throughout the food value chain: