Publications
Partners
Johannesburg - Consumers should make the most of low interest rates while they last, Standard Bank said in reaction to the Reserve Bank's announcement on Thursday that the repo rate would remain unchanged at 5.5%.
"Interest rates have never been this low. Consumers who have financial capacity should make use of the current low interest rate environment," said Sugendhree Reddy, Standard Bank director of banking products.
Interest rates are at their lowest level in over 30 years.
"While household debt to income levels do remain high, compared to international levels, they are still comparatively moderate. An indication that there is still room to absorb further debt if necessary.
"Consumers who do find themselves in some financial distress are urged to make use of this current environment to either reduce their debt levels or increase their savings levels."
Razia Khan, regional head of research, Africa, for Standard Chartered Bank, said the Reserve Bank had struck a "measured tone overall" in its decision.
She said although there were risks to increasing inflation, the Reserve Bank would only react if it believed all conditions justified it.
"Interest rates have never been this low. Consumers who have financial capacity should make use of the current low interest rate environment," said Sugendhree Reddy, Standard Bank director of banking products.
Interest rates are at their lowest level in over 30 years.
"While household debt to income levels do remain high, compared to international levels, they are still comparatively moderate. An indication that there is still room to absorb further debt if necessary.
"Consumers who do find themselves in some financial distress are urged to make use of this current environment to either reduce their debt levels or increase their savings levels."
Razia Khan, regional head of research, Africa, for Standard Chartered Bank, said the Reserve Bank had struck a "measured tone overall" in its decision.
She said although there were risks to increasing inflation, the Reserve Bank would only react if it believed all conditions justified it.
