Today’s repo rate reduction of 25bps (to 6.5%), coupled with early indicators of recovery in the South African residential property market augur well for the balance of the year and underscore the opportunity for home buyers to capitalise on the current favourable market conditions before the market enters a decisive upturn.

Friday, 24 May 2019 12:31

Repo rate unchanged

South African Reserve Bank (SARB) Governor Lesetja Kganyago has announced that the Monetary Policy Committee (MPC) has maintained the repurchase (repo) rate at 6.75%.

As anticipated, the MPC kept the repo rate steady, taking a conservative approach against the backdrop of rising fuel prices, and with a wary eye on CPI inflation, says Dr Andrew Golding, chief executive of the Pam Golding Property group.

The Monetary Policy Committee (MPC) of the Reserve Bank has once again decided to leave South Africa’s repo rate unchanged at 6,75% and prime interest rate the same at 10,25%.

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.

In the week ahead, the South African Reserve Bank (SARB) Monetary Policy Committee (MPC) will meet to deliberate on interest rates from the 26-28 March, and FNB expects it to leave its policy Repo Rate unchanged at 6.75%.

After an unexpectedly tough 2018, but with the welcome announcement that the repo rate remains unchanged following this first MPC meeting of the year, the outlook for 2019 is somewhat brighter.

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.

Page 1 of 6

Most Popular

The next wave of property development in Africa is coming

Jul 31, 2019
 NIYI ADELEYE
The past decade has seen South African property developers and investors forge their way…

SA focused REIT Dipula makes bid merge with SA corporate real estate

Jul 31, 2019
 IZAK PETERSEN
Dipula Income Fund, a diversified, South-African focused and Black-managed REIT, today…

Vukile’s Spanish assets top €1bn, and it gets a credit ratings upgrade

Aug 02, 2019
 LAURENCE RAPP VUKILE
Vukile Property Fund today announced that its listed Spanish subsidiary, Castellana…

Growthpoint Investec African Properties steps up its acquisition trail in Africa

Aug 06, 2019
 THOMAS REILLY
Growthpoint Investec African Properties (GIAP), the pan-African real estate investment…

Credit and mortgage balances in the first half of 2019

Jul 31, 2019
Jacques Du Toit Absa Home Loans
Credit and mortgage balances in the first half of 2019, with divergent home loan…

Please publish modules in offcanvas position.