So in this movie old Tito Mboweni played by Basil Fawlty announces - a 0.5% increase in the repo rate pushing up benchmark prime and mortgage rates to 14.5% - and the whole cast and audience whoops with delight!!!! YES, YES, YES.
So Basil took the spirit out of Christmas shopping for many borrowers ...laughed the News24 audience.
Polly the analyst asked our knucklehead Manuel if the majority of his analyst friends also expect this to be the end of the tightening cycle???? Manuel said he asked his buddies at Lehman Brothers and the answer was, QUE!!! You guessed it, no-one really knows.
SO, thank heavens for good old SYBIL, level headed, slightly cloudy but, sensibly she thinks that having spoken with her close, close friends over tea at ABSA that with inflation taking its leap into our lives and with some belt tightening we will see house prices on average continue to dip and yes, the end of the increase in interest rates cycle is doomed! Doomed, did you hear what I said BASIL.
Have a safe and blessed Festive Season folks!!!!!!!