Wednesday, 29 October 2008

US set to cut interest rates

Breaking news this morning....
Looks like the US Federal Reserve is set to drop the interest rates by 50 basis points.

This will be one of the biggest rate cuts in US history dropping the interest rate to just 1%.

Will South Africa's reserve bank follow suit? Or are we going to have to sit out the 15.5% interest rate until early next year?

What do you think?

5 comments:

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PMM said...

I wish here in South Africa they would do the same, and cut our interest rates too.

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property shopper said...

This is good news. now that the real estate industry is struggling. It can hopefully bring in more buyers.

Colin Brazendale said...

They will follow, that is a fact, but remember SA is always a little behind with these things. Tito will wake up next year and drop rates back to 10.5% or less by year end. Look at what happened in the UK. 1.5% in one go. That is 30%. If that happens in SA = 5% in one go. In my dreams. :)