Thursday, 16 August 2007


Interest rate hikes?? WE NEED A BIT OF MAGIC TITO!!!!

13.5% it is - up 0.5%

Im listening to online feed as we speak on SABC news newsfeed

So Food increases is a BIG BIG problem, affecting us all

NCA - an impact thats defintely changed to 21,5% in June to private sector loans.

The JSE has tanked over 4% as global markets roiled amid a credit scare, with one UK economist calling it "pure panic". I agree totally.

Interestingly, the bank's Monetary Policy Committee meeting is taking place against the backdrop of worrying jitters on international financial markets prompted by worldwide credit concerns. Emerging markets, including South Africa, were not spared by this volatility, with the Johannesburg Securities Exchange closing in the red and the rand weakening to a four-month low. This bodes well for South Africa in the medium term, but it could be a rough ride in the short term.

0.5% Thats it Rate today is 13.5%

1 comment:

WizardMan said...

It's a pity. I thought they might actually hold that 0.5% interest rate hike this time around but things are obviously more serious than we thought.

Oh well, good news for those who put that little bit extra in every month.