Against the backdrop of the unprecedented times we find ourselves in, today’s (19 March 2020) decision by the Monetary Policy Committee to reduce the repo rate by 100bps is a critical step towards financial survival.

Apart from the tax reprieve announced by Finance Minister Tito Mboweni in the National Budget, with no major tax increases and even personal income tax relief across the board.

One thing is certain, apart from the overall inflationary impact, the spiralling cost of fuel directly impacts on the demand for conveniently situated, sectional title property in key economic hubs – close to the workplace, schools and all amenities.

South Africa is likely to exit its technical recession in the third quarter, the Bureau of Economic Research (BER) said on Tuesday.

National Budget geared to instill confidence

The International Monetary Fund (IMF) has raised South Africa’s growth forecast to 1% this year.

In a quarter fraught with social unrest, political turmoil, frequent power outages and other economic headwinds, results from the 2Q2015 FNB/BER Consumer Confidence Survey show that consumer sentiment nosedived to a 14.5-year low.