Thursday, 12 April 2007

South African Interest Rates! Hike or Not...

Well.. I'm glad to say that I don't have to bitch and moan in this post :)

I had an entire article thought out in my head waiting for that little speech on the interest rake hike. Trust me, if that interest rate changed again for the umpteenth time in the last 12 months I was ready to grind every living politician and credit bureau in this country. I'm also sure those of you with home loans sitting over R2 Million had their speed dials ready to contact their banks or bond originators ;-), while others, yes you Cape Tonians, were not too perturbed.

I'm very pleased to say though that good old Mr Tito Mboweni (South Africa's governor of the reserve bank), has decided that our interest rate will remain unchanged. According to news reports earlier in the week, most South African reporters seemed extremely sceptical and rightly so about whether or not interest rates would rise, but it seems we're OK for now.

We may be looking at another hike in the not too distant future though. For more information check out Moneyweb's reports on "South African Interest Rates remain unchanged"

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