Thursday 10 April 2008

Interest Rate Slap ???

Well as we all know, it's interest rate decision time again today! I know everyone expecting a interest rate hike but if anyone listened to the FNB Property Guru on Radio 702 this morning things aren't looking that way....

According to FNB, hiking our interest rates again will not curb inflation but will in fact damage the economy even more. The reason being that the sudden increase in the cost of living in South Africa and rising inflation is a GLOBAL problem not local, and hiking the interest rate will not curb inflation as inflation is currently being affected due to the increase in fuel prices, food prices and weakening rand.

So what can we expect??? Well I think we can expect 14.5% interest for the rest of the year!

Lets keep our fingers crossed and see what happens.
WizardMan Out

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