Consumers are able to enjoy the current interest rate for a while longer, as Reserve Bank Governor, Gill Marcus, announced today at the third Monetary Policy Committee meeting of the year that the prime interest rate would remain at its current 9%. The repurchase rate will remain at 5.5%. While this will come as a relief to consumers, economists are still expecting the rate to be hiked throughout the remainder of 2014, says Adrian Goslett, CEO of RE/MAX of Southern Africa. “Unfortunately with … [Read more...] about Homeowners can breathe easy after MPC announcement
mpc
5.5% Repo Rates Likely to Stay
The Reserve Bank's Monetary Policy Committee (MPC) began its two-day meeting with economists on Tuesday 10 May predicting that the repo rate will remain unchanged at 5.5 percent. "Nedbank expects the MPC to keep rates unchanged at 5.5 percent which will keep prime rate at 9 percent," said Nedbank economists. Standard Bank senior economist Dr Johan Botha said oil prices had fallen in the last couple of days with reports that it will rise again. "The volatility is a concern making policy … [Read more...] about 5.5% Repo Rates Likely to Stay
