While a further reduction to the interest rate would have been a bonus for aspirant first-time home buyers and existing homeowners with mortgages, the Monetary Policy Committee’s decision to leave the repo rate unchanged at 3.5% was anticipated by the majority of market commentators, says Dr Andrew Golding, chief executive of the Pam Golding Property group.

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

All eyes will be watching to see how the latest GDP figures impact the MPC’s interest rate decision next week, as well as eagerly awaiting the upcoming October Medium-Term Budget Policy Statement (MTBPS).

Experts are divided on whether the South Africa Reserve Bank (SARB) Monetary Policy Committee (MPC) will hold or decrease the repo rate later this month, according to Finder’s panel of 11 experts.

“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%.

In line with market expectation, the Reserve Bank has cut the repo rate by 100 basis points to 5.25% per annum, Governor Lesetja Kganyago announced on Thursday.

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.

This week’s SARB interest rate decision not expected to change property market conditions meaningfully.

Monday, 23 September 2019 15:10

Reserve Bank keeps repo rate unchanged

 South African Reserve Bank Governor Lesetja Kganyago on Thursday said this is in line with market expectation.

Friday, 24 May 2019 12:31

Repo rate unchanged

South African Reserve Bank (SARB) Governor Lesetja Kganyago has announced that the Monetary Policy Committee (MPC) has maintained the repurchase (repo) rate at 6.75%.

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