Just Property – COVID19 – Repo rate decrease welcomed by the property sector: South Africa, March, Friday, 2020 – On 19 March 2020, the Monetary Policy Committee announced a repo rate cut of 100 basis points, taking the repo rate to 5.25% per annum. This follows January’s 25 basis point cut. Paul Stevens, CEO of Just Property, welcomed the announcement noting that the 1% cut translates into a reduction in the mortgage rate (or prime lending rate) from 9.75 percent to 8.75 percent, which … [Read more...] about Just Property – COVID19 – Repo rate decrease welcomed by the property sector – MyPR.co.za
repo
Repo rate UP
The Reserve Bank on Thursday increased South Africa's repo rate by 25 basis points to 7% per annum. "Given the upside risks to the inflation forecast and the protracted period of the expected breach, the MPC decided that further tightening was required to complement the previous moves. Accordingly, the MPC decided to increase the repurchase rate by 25 basis points to 7% annum, effective from 18 March 2016," Governor Lesetja Kganyago said. The increase follows on the Monetary Policy … [Read more...] about Repo rate UP
Interest rates will rise on back of poor rand – experts
Nedbank's economic unit said on Wednesday that in an environment with a rapidly deteriorating inflation outlook, the South African Reserve Bank (Sarb) would have no choice but to raise rates to contain inflationary expectations and restore financial stability. This was in reaction to the announcement by Statistics SA that South Africa's annual consumer price inflation rose to 5.2% in December 2015. This was in line with expectations and 4 percentage points higher than November's 4.8% rise. It … [Read more...] about Interest rates will rise on back of poor rand – experts
The upside of an interest rate hike
As we race towards the end of 2015 and a well deserved break, some of us are fortunate enough to receive a 13th cheque or bonus. Although it is tempting to spend this money on upcoming festive season activities, the recent interest rate hike has left many consumers unsure as to how they should be spending this extra money. The recent repo rate increase by the South African Reserve Bank may steer many South Africans to use the biggest portion of their 13th cheque or bonus to service their … [Read more...] about The upside of an interest rate hike
