Big interest rate changes coming

[Bliksis]

ZIm... 110%

Lebanon also in the kak I believe

 

[BBSA]

 

[ghaye]

Looks like the right time to open an investment account in Argentina.

 

[zerocool2009]

"It's always a good time to invest in property"

I'm currently able to afford the increases without changing my lifestyle too much, but many aren't.

In what way is this a rude awakening? A rude awakening from what?

I am doing more house shopping now

Rude awakening: interests rates are out of your control

 

[wingnut771]

Can I take a loan here and open a savings account in Argentina and start winning?

 

[Bundu]

Can I take a loan here and open a savings account in Argentina and start winning?

hmmmm, not too good?

 

[Speedster]

Can I take a loan here and open a savings account in Argentina and start winning?

If you think the ZAR has it bad?

 

[RedViking]

Massive? Or just big?

 

[Speedster]

hmmmm, not too good?
View attachment 1518105

Jinx, you owe me a PRIME

 

[RedViking]

In the end, the decision makers live lavish lifestyles and do not have to worry about how to affects the common folk.

 

[wingnut771]

hmmmm, not too good?
View attachment 1518105

If you think the ZAR has it bad?

View attachment 1518107

Does Argentina also have Communism and Transformation or why is this happening?

 

[Moto Guzzi]

Big interest rate changes coming

Faced with the worst inflation shock in a generation, the South African Reserve Bank is looking to make changes in the way it goes about managing inflation.

Inflation=The result of mismanagement of Resources & Money connected to it the usual way, however Inflation does not cater for Modern Corruption Worldwide, so that shock has to be reflected who know where and how.

 

[Bundu]

currencies normally devalue as much as their inflation differential is with the USD

 

[Speedster]

Does Argentina also have Communism and Transformation or why is this happening?

https://www.washingtonpost.com/business/2023/03/23/why-70-inflation-is-just-one-of-argentina-s-problems-quicktake/0e013ea4-c932-11ed-9cc5-a58a4f6d84cd_story.html

Tldr: defaulted on debt and is now printing money to finance expenditure.

 

[ghaye]

How long before we no longer have the cash to service our debts?

 

[zerocool2009]

How long before we no longer have the cash to service our debts?

Think worst till Dec 2023. A few more rate reviews

 

[Bundu]

How long before we no longer have the cash to service our debts?

that's the idea of increasing interest rates, to reduce your spending, reducing suppliers turn-over, hoping for them to cut their profits, reducing prices, reducing inflation

 

[ghaye]

Can't reduce the spending when government keeps putting their prices up. Eventually we'll get to a stage when there's no money left for food. Just paying for services.

 

[Bundu]

Can't reduce the spending when government keeps putting their prices up. Eventually we'll get to a stage when there's no money left for food. Just paying for services.

the weird thing is, the very poor are normally hardest hit by inflation

 

[Messugga]

But we are stilled blessed. Argentina’s interest rate is 74%

So what actually happens if we go that way? Obviously many/most people wouldn't be able to afford their mortgages, as an example. Does everyone simply declare bankruptcy?