Economy / General

MPC – 24 November 2022

The Monetary Policy Committee (MPC) decided to increase the repo rate by 75 basis points to 7.0%. Short-term interest rates have now increased by 3.5% since the low of 3.5% and are now higher than the repo rate level before the start of the pandemic.

PPS Investments: CPI for October 2022

Consumer price inflation increased by 7.6% year-on-year in October 2022, marginally higher than the 7.5% year-on-year print in the previous month.

Households are R253bn poorer in Q3 thanks to rising interest rates

According to the Momentum/Unisa South African Household Wealth Index for the third quarter of 2022, the value of South African household wealth decreased by around R1.528 trillion since the first quarter of the year (Q1 2022) to R15.5 trillion. Households have lost an estimated R253bn in Q3 2022 following the decline of R1.275 trillion in Q2 2022.

Medium-Term Budget offer hope for many South Africans