Debtfree Magazine issue 9 of 2021-for download

REPO RATE UNCHANGED
The SA Reserve Bank’s Monetary Policy Committee (MPC)
has decided to leave the repo rate unchanged at the record
low of 3.5%. This will continue to provide credit users with
some relief in the face of the lockdown and pandemic.
Reserve Bank Governor, Lesetja Kganyago did, however, say
that this are going to change in the near future and that
rates are likely to go up. He said: “The implied policy rate
path of the Quarterly Projection Model indicates an increase
of 25 basis points in the fourth quarter of 2021 and further
increases in each quarter of 2022 and 2023.”
Basically, rates are going to go up a few times over the next
24 months. So, brace yourself or lock in these low rates
while you can.