Interest Rate Cuts

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Viper25

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50 BP Cut
Just heard it on 702

SARB cuts interest rate by 0.5%
November 18 2010 at 03:23pm


South Africa's Reserve Bank cut its repo rate by 50 basis points to 5.5 percent as expected on Thursday, but Governor Gill Marcus said the scope for further downward movement was limited.

Thursday's move adds to 600 basis points of reductions in interest rates since December 2008 and leaves the repo rate at its lowest level since the central bank introduced the measure in 1999.

Sixteen of 21 economists polled by Reuters last week expected the Reserve Bank to cut the repo rate, while five saw it remain unchanged at 6.0 percent. - Reuters

http://www.iol.co.za/business/business-news/sarb-cuts-interest-rate-by-0-5-1.837910
 
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Govt trying to stimulate consumer spending over the festive season.... good idea

People digging a huge hole with reckless spending .....bad idea
 
awesome, Unfortunately i fixed my loan on 14 % percent!!
 
With my home loan the bank told me that if I left my installment unchanged I could pay off the bond in 13 years instead of 18 years remaining. I think I will do just that.
 
JungleBoy said:
With my home loan the bank told me that if I left my installment unchanged I could pay off the bond in 13 years instead of 18 years remaining. I think I will do just that.
Click to expand...

..the same banks have no clue as to the what the interest rates are likely to be in 13 years time .. :-O
 
I'm guessing one has already purchased a car - there's no way of fixing it now?

On the plug, should be buying propery in 3 or 4 months - perhaps I should fix it then
 
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