Thursday, 28th May 2009 at 8:00 pm by Rander
Interest Rates down again - Maybe for the last time


The Reserve Bank dropped their key repo rate by a further 1% today, led by the extremely weak economic data released 2 days ago. The repo rate is now 7.5% whilst the banks prime lending rate drops down to 11%. As most countries across the world have continued to lower interest rates during this harsh economic climate, there is suggestion that todays slashing of interest rates in South Africa could be the last cut we will see in a while. Some analysts predict that we will have one more rate cut in June and it will only be a 50 basis point drop and then from there we will not see any further cuts as the MPC (Monetary Policy Committee) would have done all it can.

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Comments

Car Repossession on 16 August, 2009 at 8:25 am #

Well we just had another 0.5% drop and they are again saying it is the last. I think not!


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