According to Yael Geffen, CEO of Lew Geffen Sotheby’s International Realty, the decision by the South African Reserve Bank’s Monetary Policy Committee (MPC) to raise the repo rate by 25 basis points to 4% is not unexpected.

Herschel Jawitz, CEO of Jawitz Properties, says that today’s rate increase will have a marginal effect on the market.

The SARB’s Monetary Policy Committee is set to increase the repo rate this week, according to Finder.com’s SARB Repo Rate Forecast Report. 

The SARB Monetary Policy Committee (MPC) decided to keep the repo rate unchanged at 3.5% in a unanimous decision.

The South African economy continues to rebound from the 2020 recession, albeit at different growth rates across sectors, the South African Reserve Bank’s Financial Stability Review (FSR) has revealed.

1st Quarter 2021 StatsSA residential building numbers showed some positive growth in units completed, but growth in plans passed was still negative.

Thursday, 20 May 2021 23:11

Repo rate remains unchanged at 3.5%

The Monetary Policy Committee has decided against changing the repo rate, once again keeping it at 3.5% per annum, said Reserve Bank Governor Lesetja Kganyago.

Today’s announcement to hold the repo rate steady at 3.5% marks a full year that South Africans have been able to make the most of a historic low lending environment, says Carl Coetzee, CEO of BetterBond.

The residential property market continues to strengthen, as interest rates remain at record-low levels after a year in which the repo rate remained below 4%, says Carl Coetzee, CEO of BetterBond.

The South African Reserve Bank (SARB) is set to hold the repo rate at the 18-20 May meeting, according to a unanimous vote by 21 economists on Finder’s repo rate forecast report.  

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