The previous rate was 9.75%. Rationale for a financial stability focus; Domestic Responsibilities. In order to counter inflation, excessive growth … It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds. Ask what prime is; same result.You must save for your retirement, don’t expect my debts to fund your retirement with interest charged. In South Africa, the interest rates decisions are taken by the South African Reserve Bank’s Monetary Policy Committee (MPC). Security Centre.

The official interest rate is the repo rate.

And will be offered land elsewhere if restitution proves impractical. The South Africa Reserve Bank slashed its key repo rate by 25bps to a new all-time low of 3.50% on July 23rd 2020, as widely expected. It punishes the greedy and unreasonable, who invest through savings and expect to live off the interest of their savings… that is not gonna happen…. South African Reserve Bank (Sarb) governor, Lesetja Kganyago. According to the Prescribed Rate of Interest Act, interest on debts where no rate is prescribed is calculated at the repo rate plus 3.5%.

Personally, I’m done spending any money in SA, besides what I eat and drink.I’ve read everyone’s comments and voted for 90% of them, there is a common trend here:Everyone is extremely concerned about that the economy is not only uninvestable but also that they only thing growing here is inflation on basic products which has and will continue to deteriorate the consumer purchase power.In a purchase power parity compared to the US, South Africans have lost about 12.5% purchase power since 2017. He must know this is a band aid on an axe wound but it is politically correct.The RSA economy was structurally destroyed already and then came the lock down.Likely 3m job losses and a negative GDP north of 15% this year and the unrest has not really started yet. This base rate is also called the repurchase rate. Policymakers noted that the economic contraction and slow recovery will keep inflation well below the midpoint of the target range this year. The Bank currently expects GDP in 2020 to contract by 7.3%, compared to the 7.0% contraction forecast in May,” he said.“Even as the lockdown is relaxed in coming months, for the year as a whole, investment, exports and imports are expected to decline sharply. Join our mailing list to receive top business news every weekday morning.

Image: Moneyweb 3% inflation on a salary of R75,570 is not going to kill them however as you move down the income scale and the group of goods which they purchase.SA Stats will not release this data because it is detrimental to the anc as the voters would instantly protest and vote for someone else.Will lower interest rates really make a difference in an import driven economy? 2020-07-23.

Poverty, AIDS, TB, inequality, unemployment and corruption is nothing compared to hyperinflation, because hyperinflation multiplies the effect of those problems by a factor of a thousand.Base rate at 3,5% says everything about how ill the economy is. If you are not happy with low interest returns, take on more risk! The Committee noted that the economic contraction and slow recovery will keep inflation below the midpoint of the target range. Interest Rate Decision

Yields have diminished by 50% . I am sure he must be aware that his job and his office are not safe.Not due to his performance which has been exemplary under the conditions – but due to the catastrophic and ongoing mistakes being made at Luthuli house. Actually it shows that we don’t understand the difference between saving and investing.Well Boombang, I have have been living from interest income for the the past 15 years (since age 48 Ha Ha Ha). This is NOT GOOD NEWS.Its consumer spending the country needs and with explosive unemployment….RSA is a floating turd in the streamMost welcome another 50 basis points by year-end would be appreciated.Only because actual investments in South Africa are dead thanks to the ANC, and of course the fund managers who keep charging to give you negative returns.Boombang,as a retiree I’m telling you this is bad. In addition to continued easing of interest rates, the Sarb has relaxed regulatory requirements on banks and has taken important steps to ensure adequate liquidity in domestic markets. Interest Rate Decision The repercussions of shortsighted and populist government policies will impact on the banking system at some stage, and then the governor is forced to act. The decrease mirrors similar cuts we saw to the interest rates last month, too. What a shame!Whichever product you choose, you should be able to access it when necessary and it shouldn’t be exposed to the volatility of the listed share markets. How evil of you…Bibab: dont waste time responding to Boombang : he is an EFF troll.Thanks. Get-rich-quick scheme pulls a crowd, despite regulators calling time-out

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