Thursday, 19 July 2018 18:59

Repo rate unchanged at 6.5%

The Monetary Policy Committee (MPC) has unanimously decided to keep the repurchase rate unchanged at 6.5% per annum.

Our Firstrand expectation is for a 25 basis point interest rate cut in the SARB’s Repo Rate, when its Monetary Policy Committee (MPC) meeting concludes on Wednesday. Should this happen, it would lower the Repo Rate to 6.5%, and the Prime Lending Rate of banks to 10%.

In January 2018, the FNB House Price Index showed a slowing in year-on-year growth compared with the revised December 2017 rate. This comes after some prior months of accelerating year-on-year growth.

“It was a stable start to the New Year with the Reserve Bank today announcing no change in the repo rate at the conclusion of its Monetary Policy Committee meeting, as forecast by various market commentators,” says Dr Andrew Golding, CEO of the Pam Golding Property group.

Investec Australia Property Fund is pleased to announce a full year distribution of 9.17 cents per unit (cpu) pre withholding tax (WHT) and 8.92 cpu post WHT for the year ended 31 March 2016.

John Loos, Household and Property Sector Strategist at FNB observes 'a tougher year for residendial mortgage lending ahead, as the residential property market slowly moves into its super-cycle “Correction”.'

Real Retail Sales growth for December 2015 continued to record an exceptionally healthy growth rate under the weak economic circumstances.

The Reserve bank (SARB) Monetary Policy Committee (MPC) decided today to hike its policy Repo Rate by a further 50 basis points to 6.75%, a move that will see Commercial Banks raise their Prime rates to 10.25%.

The SARBs Monetary Policy Committee has raised the repo rate by 50 basis points taking it to 6. 75% during its first meeting in 2016.

In December 2015, the FNB House Price Index inflation rate continued its mild year-on-year growth uptick of recent months.

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