Harcourts South Africa welcomes the announcement by the South African Reserve Bank that interest rates will be cut by 25 basis points. This is the first easing in policy in over a year and in a time when many South Africans are feeling the pressure this comes as welcomed relief. Especially considering that many economists are predicting another cut later in the year.
Topics: Richard Gray, Harcourts South Africa, Interest Rates, South African Markets
South Africans will continue to remain under pressure as the governor of the South African Reserve bank Lesetja Kganyago announced yesterday that the bank will raise the repo rate to 6.75% from 6.5%. With the repo rate at 6.75%, the prime lending rate will increase to 10.25%.
Topics: Interest Rates
Despite the economic climate in South Africa being under pressure and to a certain extent unpredictable, according to the Momentum-Unisa SA Household Wealth Index the worth of households grew by 3.9% between the fourth quarter of 2015 and first quarter of 2016, with an increase of R67.8-billion.
Topics: Buying, Money, Interest Rates, Consumers Under Pressure, Financial Decision, Mortgages