News Flash: Michael Jackson passed away last night! A sad time in the history of music! A man light years ahead of his time, and the most influencial pop musician of ALL time. His music will sorely be missed by all, but a legacy will always remain!
Tito Mboweni's decision yesterday to keep rates unchanged has shocked some, but with inflation levels staying at around the 8% mark, it's no wonder.
After dropping the interest rate more than 5 times this year already, and inflationary levels not dropping at quite the speed the reserve bank were hoping, Tito's decision remains a solid one.
There's loads of speculation out there with talks about rates going back up and people needing to fix rates now, but with GLOBAL economies sitting at the levels they're currently sitting at, it's not possible. If anything I believe we'll see a another drop in the next month or two and then we'll stabilize!