Another interest rate hike has slapped us on the rear! Tito Mboweni announced that the reserve bank was to raise the repo rate by 50 basis points to 11.5% thereby increasing South Africa's interest rate to 15%.
Not all bad news though! For those of you putting in a little extra every month, the interest you earn on your money has just been raised by another .5%.
South Africa's Current Interest Rate is now 15%.
3 comments:
Firstly thanks for keeping us updated on the S.A interest rates. It's such a sad thing to say but South Africa's current interest rate problem is not getting better. I really started thinking you were right and our interest rate in South Africa would not rise again but alas it did.
Oh well, lets see how things go.
There is a saying that one mans meat is another mans poison. if you have the cash this is where you will pick up pressure sales!
Slapped us on the rear. I would not say that. I would rather say "Smacked us in the teeth"
Investors bring it on.
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