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As it happened: Interest rates remain unchanged at 5.75%

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SARB governor Lesetja Kganyago.
SARB governor Lesetja Kganyago.
Last Updated

21 Nov 2014

Sizwe Nxedlana, Chief Economist at FNB: “The recent decline in both oil and agricultural commodity prices has resulted in a more benign inflation outlook, which in turn, allowed the SARB to keep the repo rate on hold today. Notwithstanding the recent reprieve for consumers, we do anticipate that interest rates will continue on a gradual upward trajectory next year. This is likely to be driven by higher interest rates overseas and an inflation pickup in the second half of 2015.”

20 Nov 2014

FNB CEO Jacques Celliers: “We still see that consumers are very wary regarding large purchases that require bank funding. This pattern is understandable in the light of recent disappointing economic growth figures. However, with some good fortune, our prospects should improve in the coming year and consumers should factor-in rate hikes during 2015 as confidence returns."

20 Nov 2014

First National Bank (FNB) will maintain its prime lending rate at 9.25% following the decision earlier today by the SARB Monetary Policy Committee leave rates unchanged through the festive season. “After a tough year we have recently seen some relief for consumers with lower fuel prices and now we have a further two months of rate stability. As we all look towards the coming holidays, stable rates give consumers a secure platform from which they can plan their finances in 2015,” said FNB CEO Jacques Celliers.

20 Nov 2014

20 Nov 2014

Owen Nkomo of Inkunzi Investments: If everything remains the same, we can expect interest rates to remain the same.

20 Nov 2014

Rob Price ETM Analytics: If rand weakens even more, we could go into a high interest rate cycle.

20 Nov 2014

Rob Price ETM Analytics: I do not agree with Sarb that lower interest rates bring more economic growth.

20 Nov 2014

Rob Price ETM Analytics: Sarb is playing a wait and see game regarding monetary policy.

20 Nov 2014

Owen Nkomo of Inkunzi Investments: Need to mechanise SA mining environment will be very interesting impact.

20 Nov 2014

Rob Price ETM Analytics: If we see above inflation wage hikes, govt will be concerned about even further ratings downgrades.

20 Nov 2014

Rob Price ETM Analytics: National Treasury has put itself on a collision course with the public sector regarding wages.

20 Nov 2014

Owen Nkomo of Inkunzi Investments: We cannot grow if there is no growth in the US. I believe interest rates will likely remain benign in SA.

20 Nov 2014

Jacques du Toit, Absa property analyst: The first nine months of 2014 saw continued year-on-year growth in the planning phase of residential building activity in the South African market for new housing.

20 Nov 2014

Rob Price ETM Analytics: Interest rate would be about 15% probably if market had to decide and not at our current rate.

20 Nov 2014

Rob Price ETM Analytics: We need to normalise interest rates. Ask why interest rates are so much lower now? Risk is higher now than 10 years ago.

20 Nov 2014

Rob Price ETM Analytics: Around the world reserve banks have tried to keep interest rates lower to try and get a boost in credit.

20 Nov 2014

Rob Price ETM Analytics Interest rates are being kept artificially low.

20 Nov 2014

What exactly is interest rate normalisation: Perception in the market that interest rate is being kept low artificially.

20 Nov 2014

Rob Price ETM Analytics: Value of the rand has not been protected yet.

20 Nov 2014

Why Mike Schüssler called it before the announcement:

20 Nov 2014

Rob Price ETM Analytics: Rand is still at significant risk.

20 Nov 2014

Rob Price ETM Analytics: I have two concerns: one related to why governor says inflation is so much lower.

20 Nov 2014

Rob Price ETM Analytics: If Gill Marcus was still there today, she would have said pretty much the same thing.

20 Nov 2014

Samuel Seeff: We are finally ending a year on a cheerful note and we head to 2015 with a housing market on solid ground.

20 Nov 2014

Samuel Seeff of Seeff Properties: While the property market has largely shrugged off the economic challenges this year, it needs to be borne in mind that it is not entirely immune to economic volatility. Rising home loan rates will not only dent affordability, but is likely to dampen buyer confidence, especially at the middle and lower end of the market.

20 Nov 2014

Dr Andrew Golding says the forthcoming holiday season is also a period when leisure seekers – in particular those with families, visiting popular coastal and other holiday destinations, consider owning a second home for weekend or longer getaways in order to enjoy quality time out from busy schedules.

20 Nov 2014

As we head into the busiest period in the retail sector and one that needs a vital festive season boost, the decision to keep a bit more money in the pockets of consumers is the right one and adds a little more cheer to the property market, says Samuel Seeff.

20 Nov 2014

EXCLUSIVE: In other news, the Cell C banner man has won his credit listing battle!
FULL STORY

20 Nov 2014

The announcement by new Reserve Bank Governor, Lesetja Kganyago that the bank’s Monetary Policy Committee would keep the repo rate unchanged at 5,75% (base home loan rate at 9,25%) is indeed welcome news for home owners, prospective buyers and the economy as a whole according to Seeff chairman, Samuel Seeff.

20 Nov 2014

Kganyago: You cannot ignore what happens in the US.

20 Nov 2014

Kganyago: MPC remains convinced that interest rates will have to normalise over time - eg in the US - and it will have an impact on the SA economy.

20 Nov 2014

Kganyago: Remember interest rates are not a tax.

20 Nov 2014

Kganyago: Bear in mind there are people living on fixed incomes - mainly pensioners.

20 Nov 2014

Kganyago: If you don't want to pay interest, just don't borrow.

20 Nov 2014

Kganyago: I do not remember Finance Minister Nene talking about interest rate hikes in the mini budget.

20 Nov 2014

With the residential property market driven mainly by sentiment, today’s decision by the Monetary Policy Committee to keep the repo rate unchanged augurs well for further confidence among home buyers, says Dr Andrew Golding, chief executive of the Pam Golding Property group.

20 Nov 2014

For the first time in very long time the MPC judges said that risks to inflation to be balanced.

20 Nov 2014

Kganyago: We do not know what the US is going to do so MPC cannot really say we will pre-empt the US.

20 Nov 2014

Kganyago is answering questions from the media.

20 Nov 2014

Kganyago: When the MPC meets, we analyse global and domestic economic trends and based on what we see as emerging trends we make an appropriate decision.

20 Nov 2014

Kganyago: We will continue to vigilantly monitor and make an appropriate decision about rates.

20 Nov 2014

Kganyago: Whether we will hike next year: If you wait til next year's MPC meeting, you will know if we will hike or not.

20 Nov 2014

Sarb again placing lot of emphasis on interest rates normalisation.
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