May 2018 saw the FNB House Price Index growing by a faster 4.6%, year-on-year, up from the previous month’s 3.8% in April, and from a February 2018 low of 2.8%.

Our Firstrand expectation is for a 25 basis point interest rate cut in the SARB’s Repo Rate, when its Monetary Policy Committee (MPC) meeting concludes on Wednesday. Should this happen, it would lower the Repo Rate to 6.5%, and the Prime Lending Rate of banks to 10%.

According to StatsSA CPI (Consumer Price Index) figures, residential rental inflation has been outstripping average house price inflation of late.

Periods of strong housing market price growth can often be a cause for concern.. 

In April 2017, the FNB House Price Index showed some further acceleration in year-on-year growth compared with the March rate, after having gone through a “dip” late in 2016.

Thursday, 30 March 2017 18:38

Repo rate left unchanged at 7%

The Reserve Bank has decided to keep the repo rate unchanged at 7% per annum, Reserve Bank Governor Lesetja Kganyago said on Thursday.

Thursday, 22 September 2016 19:47

Repo rate unchanged in September

The Reserve Bank’s Monetary Policy Committee (MPC) has kept the repo rate unchanged at 7% per annum.

The annual Consumer Price Index (CPI) eased to 5.9% in August 2016, Statistics South Africa (Stats SA) announced on Wednesday.

The July Consumer Price Index (CPI) year-on-year inflation rate slowed from a previous month’s 6.3% to 6.0%, thus sitting virtually in the 6% upper limit of the SARB’s (Reserve Bank) 3-6% inflation target range.

Wednesday, 08 June 2016 19:26

GDP contracts in first quarter of 2016

South Africa’s Gross Domestic Product (GDP) contracted by 1.2% in the first quarter of 2016, Statistics South Africa (Stats SA) announced on Wednesday.

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