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FNB confirms that it will reduce its prime lending rate to 10%

Following the South African Reserve Bank’s decision to cut interest rates by 0.25%, FNB confirms that it will reduce its prime lending rate to 10%. The new rate will be applied to all prime-linked loans from Thursday, 29 March. (more…)

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Prof Raymond Parsons

Rate cut will help to strengthen consumer and business confidence

‘The widely expected decision by the Monetary Policy Committee (MPC) of the SARB to cut interest rates by 25 basis points, even though it was a split MPC vote, was the right one for the economy at this juncture and will strengthen consumer and business confidence,” says NWU School of Business Economist Professor Raymond Parsons. […]

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Treasury

National Treasury publishes Foreign Member Funds Framework for comment

The National Treasury (NT) today publishes for comment the Foreign Member Funds Framework to be declared by the Minister of Finance in terms of the Collective Investment Schemes Act (Act 45 of 2002). In the 2014 Budget, the Minister of Finance announced the introduction of an alternative class of investment funds called foreign member funds […]

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Rate cut is a welcome relief for the agricultural sector

Commentary by Paul Makube, Senior Agricultural Economist at FNB Business.  Agriculture is a capital intensive industry with a national agriculture debt in access of R 160 million, the reduction of the interest rate by 25 basis points is therefore a welcome relief to farmers and producers who are still recovering from the aftermath of the […]

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SARB rate cut offers welcome reprieve and growth prospects

 Commentary from Luigi Marinus, Portfolio Manager at PPS Investments. The South African Reserve Bank (SARB) has cut the repo rate by 25 basis points from 6.75% to 6.5% following the most recent rate cut in July 2017. The biggest contributing factors to the rate cut is the low inflation rate at 4.0% per annum as […]

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Rate cut a further boost for market sentiment – Andrew Golding

  Dr Andrew Golding Today’s (28 March 2018) announcement of an interest rate cut of 25bps, coupled with Moody’s decision to not only leave South Africa’s credit rating unchanged at one notch above junk status, but to also upgrade the outlook from negative to stable, are positive factors which should provide welcome stimulus for the […]

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SA Reserve Bank cuts repo rate by 25 basis points

The Monetary Policy Committee (MPC) of the SA Reserve Bank (SARB) has decided to reduce the repurchase rate by 25 basis points to 6.5% with effect from 29 March 2018. At a media briefing this afternoon, the SARB Governor Lesetja Kganyago said that the MPC was of the view that, in light of the improved […]

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SARB MPC expected to announce 25 basis point reduction in repo rate

By John Loos, Household and Property Sector Strategist, FNB. Our Firstrand expectation is for a 25 basis point interest rate cut in the SARB’s Repo Rate, when its Monetary Policy Committee (MPC) meeting concludes on Wednesday. Should this happen, it would lower the Repo Rate to 6.5%, and the Prime Lending Rate of banks to 10%. […]

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