South African Reserve Bank says growth above 1.5% unlikely
South Africa is unlikely to have growth above 1.5% in the next two years, the Reserve Bank said on Wednesday.
Outstanding credit balances in the South African household sector increased by 3,4% year-on-year
Outstanding credit balances in the South African household sector increased by 3,4% year-on-year (y/y) to R1 520,2 billion in the period January to August 2017.
Repo rate remains unchanged at 6.75%
The repo rate will remain unchanged at 6.75% per annum, Reserve Bank Governor Lesetja Kganyago said on Thursday.
John Loos comments on the unchanged Repo Rate
SARB leaves Repo Rate unchanged after only 1 x 25 basis point cut in the current cutting cycle. Weak consumer confidence likely to remain, and shift to a more cautious consumer expected to continue says John Loos, Household and Property Sector Strategist.
A further weakening in building activity on the cards despite a slight rise in the FNB-BER Building Confidence Index
After declining by 11 points in 2Q2017, the FNB/BER Building Confidence Index improved by 3 index points to 35 in 3Q2017.
2nd Quarter 2017 new mortgage lending growth slows once more
2nd Quarter 2017 SARB New Mortgage Lending data, released in the latest SARB Quarterly Bulletin, showed a renewed slowing in the year-on-year growth rate into negative territory in the 2nd quarter, after a briefly positive growth rate in the 1st quarter of 2017.
SA's current account deficit widens
South Africa’s current account deficit widened to 2.4% in the second quarter of 2017, the Reserve Bank said on Thursday.
Ailing economy creates slower demand for entry-level property
Second quarter statistics (Q2 2017) from ooba, South Africa’s leading bond originator, show nominal positive growth year-on-year of 3.6% in the Average House Purchase Price.
Reserve bank reduces repo rate by 25 basis points to 6.75%
The Reserve Bank’s Monetary Policy Committee (MPC) on Thursday reduced the repo rate by 25 basis points to 6.75%.
Ongoing subdued household credit and mortgage balances growth
Ongoing subdued household credit and mortgage balances growth.
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