The value of outstanding credit balances in the South African household sector increased by 5,9% year-on-year (y/y) to R1 653,3 billion up to the end of February 2019 (3,9% y/y at end-February 2018), with growth in total credit balances as well as secured and unsecured credit balances remaining unchanged from end-January. 

With inflation currently below the mid-point of the Reserve Bank’s inflation target and economic growth remaining sluggish, the Monetary Policy Committee kept the repo rate steady at 6.75%, as expected.

Friday, 23 November 2018 03:33

SARB hikes repo rate by 25 basis points

The Monetary Policy Committee (MPC) of the South African Reserve Bank (SARB) has increased the repurchase rate (repo) by 25 basis points, effective 23 November, Governor Lesetja Kganyago announced on Thursday. 

The Firstrand economic team expects a 25 basis point interest rate hike this week when the SARB (South African Reserve Bank) MPC (Monetary Policy Committee) meets to deliberate on interest rates.

With the rand regaining some ground and inflation surprising on the downside this week, existing and aspirant home buyers will be relieved at the Monetary Policy Committee’s decision today (20 September 2018) not to increase the repo rate, says Dr Andrew Golding, chief executive of the Pam Golding Property group.

With inflation still within the target range, but with concerns following a round of fuel price increases and other potential inflationary impacts, as was anticipated, the Monetary Policy Committee kept the repo rate unchanged following this week’s meeting, says Dr Andrew Golding, chief executive of the Pam Golding Property group.

As expected, the Monetary Policy Committee kept the repo rate stable, with analysts and market commentators ahead of today’s announcement (24 May 2018) pointing to a more hawkish stance amid a weaker rand.

Friday, 19 January 2018 12:04

No change in repo rate

The repurchase rate will remain unchanged at 6.75% per annum, Reserve Bank Governor Lesetja Kganyago has announced.

“It was a stable start to the New Year with the Reserve Bank today announcing no change in the repo rate at the conclusion of its Monetary Policy Committee meeting, as forecast by various market commentators,” says Dr Andrew Golding, CEO of the Pam Golding Property group.

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.

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