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The long road to interest rate recovery

29 November 2023

Whichever way you slice the inflation and interest rate debate, it now looks certain that your clients will struggle with their debt servicing expenses well into the New Year. Repeated interest rate hikes since November 2021 have seen the monthly repayment on a R1 million home loan jump a staggering R3 084, before you even consider the impact of repaying credit card debt or servicing hire purchases agreements. PS, that R3 084 goes a long way in investment and insurance worlds.

Higher for longer, but no more hikes

24 November 2023

Lesetja Kganyago, Governor of the SA Reserve Bank (SARB), was exceptionally dovish at today’s Monetary Policy Committee (MPC) meeting, especially relative to his usual stance and relative to October’s CPI which came in at 5.9% year-on-year (y/y) relative to expectations of 5.6%.

PPS Investments: MPC – 23 November 2023

23 November 2023

The Monetary Policy Committee (MPC) unanimously decided to leave the repo rate unchanged at 8.25%. Governor Kganyago highlighted the recent increase in local inflation and that near-term pressure on inflation is to the upside but believes that the current level of the repo rate is restrictive.

PPS Investments: CPI for October 2023

22 November 2023

As expected, Consumer price inflation accelerated further in October, to 5.9% year-on-year, compared to 5.4% in September. Inflation has steadily crept higher after the July trough of 4.7% and is now uncomfortably close to the upper limit of the SARB’s target range.

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The strongest deterrent against FSP compliance missteps is or should be:

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A criminal conviction Debarment Fine or penalty Any of the above can work

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