ICYMI: The violent unrest that has been wreaking havoc across Kwazulu-Natal and Gauteng is unlikely to have any impact on the next interest rate decision. UnrestSA economy RebuildSA
“We do not expect any movement now in the interest rates, and the unrest that is going on now is definitely not going to change that. It would have to carry on for a lengthy period of time to have that effect.“If the situation lasts just a few days and then calms down, then it will probably be business as usual.”
“We don’t expect that hike this month, only later in the year, and then another two 25 basis points increases next year. The SA Reserve Bank will likely be a slow hiker, given that underlying inflationary pressures will not be too strong, and the economy is rather fragile after a lockdown year pounding in 2020.”
This is good news for existing property owners as well as those who are looking to buy now while interest rates are low. “In those days, house prices were far lower than today, to a large degree because the interest rates were so high in the 1990s.” “The financial statements should be up to date and show whether there is a record of consistent maintenance.”
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