Holding the repo rate steady at today’s Monetary Policy Committee meeting today (24 November 2016) was the right decision and one which is expected to help boost consumer confidence at a time of the year when many are planning and making career and lifestyle decisions for the year ahead, says Dr Andrew Golding, CE of the Pam Golding Property group.

The annual Consumer Price Index (CPI) eased to 5.9% in August 2016, Statistics South Africa (Stats SA) announced on Wednesday.

Cash-strapped homeowners with mortgages, who are faced with inexorably rising consumer costs across the board, will be relieved at the Monetary Policy Committee’s decision today (21 July 2016) to keep the repo rate steady, says Dr Andrew Golding, CE of the Pam Golding Property group.

Thursday, 19 May 2016 17:26

Repo rate remains unchanged at 7%

The Reserve Bank on Thursday kept South Africa’s repo rate unchanged at 7 percent per annum.

While it appears South Africa’s repo rate still remains in a rising cycle, today’s decision by the Monetary Policy Committee to pause and keep the rate stable makes sound economic sense given the stagnant economy and ongoing cost pressures exerted on consumers, says Dr Andrew Golding, CE of the Pam Golding Property group.

The South African Reserve Bank’s (SARB) Monetary Policy Committee (MPC) raised the key monetary policy interest rate – the repurchase, or repo rate – by a further 25 basis points from 6% to 6,25% per annum. Due to this hike in the repo rate, Absa announced that its prime lending and variable mortgage interest rates will rise from 9,5% to 9,75% per annum, effective from 20 November 2015.

With inflation within the target range and a sluggish economy struggling to regain impetus while the country experiences the worst drought in decades, the Monetary Policy Committee’s decision to further increase the repo rate by another 25bps was ill-timed, as a stable rate would have helped boost business and consumer confidence at a time when it is needed most, says Dr Andrew Golding, CE of the Pam Golding Property group.

Wednesday, 23 September 2015 16:27

Reserve Bank keeps Repo rate to remain unchanged

The repo rate will remain unchanged at 6% per annum, Reserve Bank Governor Lesetja Kganyago said on Wednesday.

Physical commercial property market has not weakened as much as the listed property sector.

What is the connection between a monolithic building in central Pretoria and an old mansion in the Johannesburg suburb of Parktown? Not a great deal, but the deliberations in either one will have a bearing on economic growth.

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