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- Credit history and collateral are immaterial in payday loans.All you need is job and internet to get loan
A huge relief has come to South Africans. South Africa’s central bank has cut its key repo rate by 100 basis points to 10.5 percent today (Thursday), as expected, and hinted there may be more cuts to come. For many it was not a question if rates would be cut or not but just a matter of by how much will they be cut. Suggestions ranged from 50 basis points to 200 basis points, but it looks like the MPC (Monetary Policy Committee) has settled on 100 basis points for now. However, Reserve Bank Governor, Tito Mboweni said today that he personally wanted a 200 basis point cut in interest rates but the MPC agreed on 100 only. This could easily mean that we will see another 100 basis point cut in April when the MPC meets again.
The full percentage fall, the biggest single adjustment in more than five years, adds to December’s 50 basis point cut that started unwinding the 5 percentage points in hikes between June 2006 and June 2008.
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Does this affect the escalation rate?If so how?Repo rate is basically the rate at which SARB lends money to other commercial banks? Is this correct?
What rate do banks charge to borrow money say business loan for equipment and working capital
