repo rate Archives - Voice of the Cape

SAFTU calls for an interest rate drop, as consumer inflation eases

By Loushe Jordaan Gilbert Statistics South Africa (Stats SA) released data on Wednesday showing that July's inflation figure is the lowest it has been in three years, since July 2021. Several product categories, such as food and non-alcoholic drinks, as well as transportation, showed lower yearly rates. The drop in inflation from 5.1% in June to 4.6% in July has been enthusiastically observed by the South African Federation of Trade […]

22 August 2024

Local

Inflation moderation brings hope for interest rate cuts

By Lee-Yandra Paulsen Annual consumer inflation continued its downward trend in April, as the consumer price index (CPI) recorded a year-on-year increase of 5.2%, down from 5.3% in March and 5.6% in February. Statistics South Africa reported that while general food inflation has slowed, the prices of vegetables, fruit, and hot beverages have remained elevated. Specifically, inflation for food and non-alcoholic beverages eased to 4.7% in April from 5.1% in […]

23 May 2024

Local

Relief for South African pockets as Reserve Bank holds interest rates

By Ragheema Mclean The South African Reserve Bank’s (SARB’s) Monetary Policy Committee (MPC) has kept the repo rate unchanged for a third straight meeting. This means that the interest rates that consumers will pay on their credit will remain unchanged for now. This decision, in tandem with economist forecasts, keeps the repo rate at 8.25%, with the prime lending rate at 11.75%, ensuring stability in the interest rates for consumers, […]

24 November 2023

Local

The Reserve Bank’s Monetary Policy Committee decided to keep the repo rate at 8.25% despite slightly higher inflation at 4.8%.

By Kouthar Sambo The Reserve Bank's Monetary Policy Committee decided to keep the repo rate at 8.25% despite slightly higher inflation at 4.8%. This comes after three members of the committee voted to keep rates steady while two members were in favour of a 25-basis point hike. Speaking on VOC's Drive Time show today, Head of Research and Portfolio Manager of the Camissa Islamic Funds and Economist Abdul Aziz Davids […]

21 September 2023

Local

South African Reserve Bank’s repo rate decision awaited amid economic uncertainties

By Lee-Yandra Paulsen The South African Reserve Bank's Monetary Policy Committee is poised to make a crucial announcement regarding potential changes to the repo rate, with analysts and economists closely watching the economic indicators that might influence their decision. The deliberations are fuelled by a mix of economic factors, including volatile fuel prices and surging food costs, which appear to signal a need for a rate increase. However, the concurrent […]

20 September 2023

Local

“Commit to paying off your debt and become debt free”

By Kouthar Sambo “If we have an increase in the repo rate (which we should have), it would be the tenth consecutive increase since the start of 2022 and that should give you an indication of the rise in the cost of living - the cost of borrowing money increases, the cost of debt increases, buying a home becomes more expensive,” says Consumer expert Moeshfieka Botha, who went on to […]

25 May 2023

Local

Repo rate up by 50 basis points

By Aneeqa du Plessis After much anticipation, The South African Reserve Bank (SARB) has increased the repo rate by another whopping 50 basis points to 7.75%. Commenting on the hike, SA Federation of Trade Unions (SAFTU) said it opposed the latest interest rate hike, as it will have an adverse impact on the living standards of workers and have a devastating blow to already ailed small businesses. The prime borrowing […]

31 March 2023

Local

COSATU warns recent repo rate will result in small business closures, job losses

The Congress of South African Trade Unions (Cosatu) on Friday warned of largescale job losses as small businesses face foreclosure following the increase in the repo rate. The South African Reserve Bank announced a 25-basis points basis hike on Thursday, bringing the repo rate up to 7.25%. This makes it the eighth consecutive hike. Cosatu joined the South African Federation of Trade Unions in its criticism of the central […]

28 January 2023

Local

Repo rate increases by 75-basis points

LOCAL Reserve Bank Governor Lesetja Kganyago announced a 75-basis point rate hike effective from Friday. This takes the repo rate to seven percent and the prime lending rate to 10.5 percent Economist Goolam Ballim says that the fact that two members of the Monetary Policy Committee (MPC) were more inclined to a 50- basis point rate hike, signals a division in the MPC. The committee based its rates decision on […]

25 November 2022

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