You are screwed if you are in debt! Yields have diminished by 50% . Demand driven inflation has evaporated with real estate prices collapsing. It won’t rescue the economy. Unlimited access tailored to your data needs How evil of you…Bibab: dont waste time responding to Boombang : he is an EFF troll.Thanks. Actually it shows that we don’t understand the difference between saving and investing.Well Boombang, I have have been living from interest income for the the past 15 years (since age 48 Ha Ha Ha). The weighted average exchange rate of the rand is based on trade between South Africa and its twenty most important trading partners. Our Reserve Bank is free from political interference at the moment. This is NOT GOOD NEWS.Its consumer spending the country needs and with explosive unemployment….RSA is a floating turd in the streamMost welcome another 50 basis points by year-end would be appreciated.Only because actual investments in South Africa are dead thanks to the ANC, and of course the fund managers who keep charging to give you negative returns.Boombang,as a retiree I’m telling you this is bad. See, that’s Capitalism.Replying to this drol is awaste.
As a random person on the street what the repo rate is; most don’t know. The prime rate is the underlying index for most credit cards, home equity loans and lines of credit, auto loans, and personal loans. South African Reserve Bank (Sarb) governor, Lesetja Kganyago. Don’t want to waste energetic on a eff drol.Well Boombang, you are effectively paying for my retirement. !They cut the rate they moan they don’t cut the rate they moan….Ever wondered why a loaf of bread, a litre of petrol and a unit of electricity can go up by around 6% but you get told inflation is 3%? Lockdown measures will bring this situation forward by 10 years. South Africa’s Prime Lending Rate data was reported at 7.000 % pa in Aug 2020. It punished savers and rewards irresponsible spenders.If I remember Economics 101 correctly (usually minimum 5 points for the definition) – “Economics is the science of studying that part of the human behaviour regarding the macro inter-related effects of production, management and provision or allocation of the limited resources to address the unlimited needs, wants and consumption requirements for goods and services within an economic system.”What’s wrong with the machine when in some parts of the world inter-bank rates are negative. The current South African interest rate SARB (base rate) is 3.500 % South African Reserve Bank The South African Reserve Bank (SARB) is South Africa’s central bank. The compilation of accurate economic statistics will also remain severely challenged,” Kganyago said in his MPC address.“Our second quarter estimate for output has been revised lower.
The data reached an all-time high of 17.000 % pa in May 2003 and a record low of 7.000 % pa in Aug 2020. That should teach it.Pity that we wont get much international investment now.The ANC thinks that’s a great idea.
Image: Moneyweb So with the price of stocks right now, especially so in SA, we end up with inflation that isn’t a true representation of what the average Joe buys.They can cut the rate to zero. The only ones who should feel glad are those with a shitload of debt.Since everything is going south I suppose this is fitting (excluding debt).Look at retail sales for the last quarter and tell me 25 basis points will make a difference. ?African – it means the machine is overheating, in dire need of an overall and running the very likely risk to eventually cease-up.Savers are never punished, they always get what they put in, maybe a little more. With regards to low interest rate returns, Adapt or Die. - Instant access to full history data in excel South Africa’s Prime Lending Rate data is updated monthly, averaging 10.500 % pa from Jan 2000 to Aug 2020, with 248 observations.
7.000 Personally, I’m done spending any money in SA, besides what I eat and drink.I’ve read everyone’s comments and voted for 90% of them, there is a common trend here:Everyone is extremely concerned about that the economy is not only uninvestable but also that they only thing growing here is inflation on basic products which has and will continue to deteriorate the consumer purchase power.In a purchase power parity compared to the US, South Africans have lost about 12.5% purchase power since 2017. 2000 - 2020 | Monthly | % pa | South African Reserve Bank
In April, amid the initial Covid-19 “hard lockdown” to curb the pandemic, Sarb called an emergency MPC meeting and slashed the repo rate by 100 basis points. South African Reserve Bank (Sarb) governor, Lesetja Kganyago, announced another 25-basis points repo rate cut on Thursday, taking the rate to a four-decade record low of 3.5… Flexible monthly access to CEIC data (See Article in June 2020 Quarterly Bulletin for various weights). Instant access to full history data in excel Index: 2015=100. Instant access to full history data in excel There is no data available for your selected dates.There is no data available for your selected dates.