Further repo rate cut would have provided relief for economy and boosted housing market, says Dr Andrew Golding.

So asks Dr Andrew Golding, chief executive of the Pam Golding Property group.

While retirement in its broadest sense represents a change in lifestyle in one way or another, the fact is, the traditional concept of retirement has changed significantly over the past few decades, with, for example many people in their 60s still very active and in their 70s still working, says Dr Andrew Golding, chief executive of the Pam Golding Property group.

The further reduction of the repo rate by 25 basis points to an all-time low of 3.5% takes the prime interest rate down to 7%, says Dr Andrew Golding, chief executive of the Pam Golding Property group.

Against the backdrop of ongoing measures to address the Covid-19 pandemic in South Africa, the Supplementary Budget 2020 highlighted several key aspects, says Dr Andrew Golding, chief executive of the Pam Golding Property group.

In the midst of a rapidly contracting economy in limbo under an extended lockdown, today’s (21 May 2020) announcement of a further reduction of 50 bps in the repo rate will have a positive effect on the residential property market, albeit deferred until potential buyers can begin transacting in earnest, says Dr Andrew Golding, chief executive of the Pam Golding Property group.

“In an unexpected but welcome announcement, the Monetary Policy Committee today (14 April 2020) announced a further 100bps cut in the repo rate, reducing it to just 4.25%.

Room for further interest rate cuts, says Dr Andrew Golding, CE of the Pam Golding Property group.

Against the backdrop of the unprecedented times we find ourselves in, today’s (19 March 2020) decision by the Monetary Policy Committee to reduce the repo rate by 100bps is a critical step towards financial survival.

Apart from the tax reprieve announced by Finance Minister Tito Mboweni in the National Budget, with no major tax increases and even personal income tax relief across the board.