Keeping repo rate stable makes sound economic sense.
While it appears South Africa’s repo rate still remains in a rising cycle‚ Thursday’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. “Household debt combined with rising interest rates has impacted consumer affordability‚ with South Africa’s largest bond originator‚ ooba‚ reporting a slowing in activity among first-time home buyers.“The pause in the repo rate will provide aspirant and existing home owners with a further assurance of the sound medium to long term investment potential in property‚” said GoldingHe added that despite the prevailing economic challenges and socio-political issues currently hitting the news headlines‚ sustained confidence in the property market remained a bright spot on the radar...
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