However, the period 2008 to 2012 only recorded average growth just above 2 per cent; largely a result of the global economic recession. We are in the midst of an international currency war. JOHANNESBURG - There is good news for those with bonds and car installments: the Reserve Bank has once again lowered the repo rate, this time by 50 basis points. Digital Banking Help. Past, present and future - we track how the repo rate has impacted the property market, and what the recent rate cuts mean for home buyers and sellers.. Before the end of the year, economists anticipate a third repo rate cut. Address: Regus Business Centre 1st Floor, Block B, … In this highly uncertain environment, future decisions will continue to be data-dependent.”“Monetary policy can ease financial conditions and improve the resilience of households and firms to the economic implications of Covid-19. Pensioners. Do you know where RSA would have been if it were not for the prudence of our reserve bank and the fact that they stick to their mandate and don’t bother themselves with politics or outside pressure?SARB’s “prudence” makes no difference. The business environment is internationally competitive. Your country, through your relatively high interest rates, is then importing their deflation. When reference is made to the South African interest rate this often refers to the repo rate.
Cheap money – only good for those with debt!! !Inflation in SA is also heading to zero – no production, huge unemployemnt numbers coming through as of today (every restaurant and pub laying off staff) – every business laying off staff. As the various rates tumble, the next area of focus shifts to how this relief can be felt properly by all consumers:Surprise move. The South African Reserve Bank (Sarb) has cut the repo rate by another 25 basis points, to 3.5% a year, from 3.75%.. Join our mailing list to receive top business news every weekday morning. Here's a quick glance at horoscopes and more for...TheSouthAfrican.com is all about South Africa and the stories that affect South Africans, wherever they are in the world.Help support journalists, the guardians of independent journalism, through our Governor Lesetja Kganyago announced that the rate was now 3.75%.This is the latest in a series of cuts to stimulate the economy since the outbreak of the coronavirus, with cuts of a further 200 basis points over the past two months.The Monetary Policy Committee has cut the repurchase rate by 50 basis points, bringing it to 3.75% per annum, with effect from 22 May 2020. I’m not just talking EM, but GBP, EUR, all of them! Now, what happens when your Reserve Bank is “prudent” while the Reserve Banks of your competitors are acting irresponsibly? Get-rich-quick scheme pulls a crowd, despite regulators calling time-outResidential rental arrears above 25%, vacancies top 11%Eskom ordered to restore adequate supply to Lekwa, Ngwathe
Intransigent labour that demands more and delivers less, and a government that treats businesses like the enemy, helps destroy businessA rate cut cannot fix the virus epidemic, unemployment, poor labour laws or ANC policy dysfunction that stifles any economic venture. On a R2 million mortgage, a monthly saving of R1 296 can be expected,” she says.The cut will also ease the monthly payment for those who have car loans and credit card bills; however, it will hurt pensioners who have standard savings in the bank.This won’t make any difference to our competitivity.Tell me what difference it is going to make, except for weakening our currency and ability to afford imported critical goods like oil and stoking inflation, that risks getting out of control.The economy has ZERO momentun (positive) so why would this cut stimulate appetite for credit.
The countries printing money have very clear policies around their economic principles.Our GDP growth rate problems have less to do with a global currency war than self-inflicted own goals. In order to counter inflation, excessive growth of the available funds (money) must be prevented. That is why they call this an international currency war, and our GDP growth rate proves that we are losing this war.Whichever way around the economy, we are a small country comparing to the rest, our biggest problem is our policies. 2020-07-23. South African Reserve Bank (SARB) Governor Lesetja Kganyago has confirmed that the repo rate for South Africa will be cut by 25 basis points,The Monetary Policy Committee (MPC) of SARB has decided to cut the repo rate by 100 basis points in April, plunging the figure to its lowest-ever point in the democratic era. Prime now 7,75% and a relief for our contracting economy but is it benefitting those that really need it? Security Centre. "The spot price for Brent crude oil is currently around $34 a barrel and is expected to remain at these levels in the coming months, contributing to reduced petrol price inflation. Have you not seen the problems that the US/Europe created for themselves with the loose monetary policy they followed? On the one hand we have low inflation and on the other – a recession, a currency heading south fast, a non investment debt rating, minimal GDFI, historically low levels of business & consumer confidence……………………..Johan, you are correct of course. Living beyond their means.Credit is the life blood of the bank… so they have pushed this excessively in the past 12 months.The problem now… is the instantaneous shift of reality…. This takes the repo rate … Save up for cash patiently rather than jump into hot water.
Barring severe and persistent currency and oil shocks, inflation is expected to be well contained, remaining below the midpoint of the target in 2020 and close to the midpoint in 2021,” the governor noted.“Against this backdrop, the MPC decided to cut the repo rate by 100 basis points.
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