South Africa’s interest rates may take a dip this week as inflation falls and experts weigh in on potential rate cuts. Will your pocket enjoy a little extra wiggle room?
This week has been a rollercoaster for South African consumers, with chatter around potential interest rate cuts dropping like juicy gossip! Economists are expecting the South African Reserve Bank (SARB) to ease the chokehold on our wallets by cutting interest rates by 25 basis points during their meeting this Thursday. Why the optimism, you ask? Well, inflation has seen a surprising decline, recording its lowest levels since April 2021— a clear signal for the SARB to rethink its monetary policy and give South Africans a break.
Old Mutual has weighed in, pointing out that the economic environment is just right for this relief. With inflation tamed and consumer demand currently taking a nap, it seems the stars are aligning for an interest rate cut. Imagine having a little extra cash to play with after the hike in the repo rate left many feeling the pinch! It's kind of like finding an unexpected 50 bucks in an old pair of jeans— the kind of surprise South Africans could use right about now!
Consumer inflation has slow-stepped down to 4.4% this past August, further solidifying expectations that a cut is just around the bend. The Congress of South African Trade Unions (COSATU) is hopeful that the Reserve Bank acknowledges the need for a rate drop to offer much-needed economic relief. Experts have been weighing in, and while the majority lean towards a 25 basis point cut, the bold outlier, Gryphon Asset Management’s Abri du Plessis, predicts a heartier 50 basis point drop. A tense game of economic poker, it seems!
As South Africa sits on the edge of its collective seat, let’s consider some interesting nuggets of information: Inflation has dipped for three straight months, a trend we can only hope continues! Furthermore, if the SARB comes through with a cut, it could lead to more borrowing and spending, invigorating our economy. Whether it's a small slice of financial relief or a whole pie, here’s to hoping this Thursday's announcement doesn’t send us searching for that extra pair of jeans!
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Old Mutual noted that with inflation under control and consumer demand remaining subdued, the environment seems ripe for a rate cut.
Inflation slowed for a third consecutive month, to the lowest it has been since April 2021.
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The outlier in a Bloomberg survey of 22 economists is Gryphon Asset Management's Abri du Plessis, who predicts a cut of 50 basis points. While market pricing ...
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All expectations are for a rate cut later today by the SA Reserve Bank. . . but will it be as high as the US delivered yesterday?
Economists weigh in on what South Africans should expect after the US Fed cut rates by 50 basis points – triggering some calls for the same back home.
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The Monetary Policy Committee (MPC) of the South African Reserve Bank (SARB) has reduced interest rates, leading to savings on bond repayments for South ...
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The South African Reserve Bank cut its main interest rate for the first time in more than four years on Thursday.
The Monetary Policy Committee (MPC) of the South African Reserve Bank (SARB) has reduced interest rates, leading to savings on bond repayments for South ...
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The SA Reserve Bank cut the repo rate by 0. 25 basis points today, opening the way for more cuts to come.
The South African Reserve Bank cut interest rates by 25 basis points on Thursday, saying it continued to see a dip in headline inflation in the near term, ...
Government welcomes the decision by the Monetary Policy Committee (MPC) of the South African Reserve Bank (SARB) to lower the repo rate by 25 basis points, ...
The rate cut in South Africa was widely expected given that the US Fed cut its rate by 50bps and plans two further rate cuts of 25bps each.
Government welcomes the decision by the Monetary Policy Committee (MPC) of the South African Reserve Bank (SARB) to lower the repo rate by 25 basis points, ...
Government has welcomed the announcement by the South African Reserve Bank to cut the repo rate by 25 basis points to 8%. The drop means the prime lending ...