Contact Us |
The repo rate will remain unchanged at 6.75% per annum, Reserve Bank Governor Lesetja Kganyago said on Thursday.
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.
Home buyers and those with mortgages will be encouraged by today’s announcement by the Monetary Policy Committee of a 25 basis point reduction in the repo rate, says Dr Andrew Golding, chief executive of the Pam Golding Property group.
The Reserve Bank’s Monetary Policy Committee (MPC) on Thursday reduced the repo rate by 25 basis points to 6.75%.
Buying a home is likely the largest financial decision most people will ever make.
The Reserve Bank has decided to keep the repo rate unchanged at 7% per annum, Reserve Bank Governor Lesetja Kganyago said on Thursday.
“We welcome today’s decision by the Reserve Bank’s Monetary Policy Committee to maintain the repo rate at 7% as it provides some relief to consumers dealing with rising food inflation and taxes”, says Bruce Swain, CEO of Leapfrog Property Group.
South Africans can expect growth of 1.3% in 2017, which is expected to improve moderately to over 2% in the medium term, Finance Minister Pravin Gordhan said on Wednesday.
Moody’s rating agency is expected to announce whether it will downgrade South Africa’s economy.
Holding the repo rate steady at today’s Monetary Policy Committee meeting today (24 November 2016) was the right decision and one which is expected to help boost consumer confidence at a time of the year when many are planning and making career and lifestyle decisions for the year ahead, says Dr Andrew Golding, CE of the Pam Golding Property group.