South Africa's latest interest rate: 15%
The reserve bank issued a notice late this afternoon to say that the repo rate was dropping by 50 basis points...
I think a great move and hopefully a super trend.
We should see a nice decline by April 2009 of around 200 basis points I believe.
Anyways, the SA Reserve Bank Christmas gift to all South Africans.
WizardMan Out.
8 comments:
Wonderful news, I am sure this will be a great relief to property investors.
You bet, it is great news for property investors, but guess what? Non are buying yet, only a few. I think the reality must still kick in. I am hoping that we will get a bigger cut in Feb 09, because 0.5% only helps about R400pm on R1mil of debt.
wow thats a crazy rate, as a property developer and investor i found that asset management and asset tracking applications like www.safeasset.org can really help make the paper work task easier to manage and best of all its in a secure location.
Thanks for the comment petro and thanks for the spammy comments colin and free asset management training :) but yeah...
0.5% is nothing you're right, I think a good 1% at least was needed.
Lets see, at leas we can order another Mcdonalds burger for lunch over Christmas now :)
it's nice pictures here. i like to see more, sometimes may i put on my
blog....?
if that's continuous to happen...it will bring more life to real estate world...
Have your seen the PPI figures today? 12.6% and they estimate 0% by July 09. So that will bring inflation below 6%.
I think you need to up your 200bp WizardMan to 600bp by April 2009. :)
Colin i hope you're right man.
Lets keep our fingers crossed.
If it's 600 I'll eat my hat ;-)
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