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SARB MPC: Closing in on the top of the interest rate hiking cycle

26 January 2023 | General

In delivering another interest rate hike of 25bps, despite a sizeable decrease in its real GDP growth forecast for 2023 from 1.1% to 0.3%, the Reserve Bank made it clear its primary function is to keep inflation in line with its inflation target.

Rate hiking cycle may be nearing an end

26 January 2023 | General

Following the South African Reserve Bank’s (SARB's) decision to increase its repo rate by 0.25%, FNB will lift its prime lending rate by 0.25% with effect from Friday, 27 January 2023.

All Options on the Table

25 January 2023 | General

The South African Reserve Bank’s Monetary Policy Committee (SARB MPC) is set to make a crucial decision on monetary policy on Thursday.

Will we see rate hikes up the wazoo this year?

25 January 2023 | General

Local mortgage holders entered 2023 in a state of resignation, having soaked up no fewer than seven interest rate hikes in the preceding 13-months, sending the repo rate up from 3.5% to 7%. To make matter worse, many economists are warning of tough times ahead and refusing to rule out further central bank action to fight out-of-control inflation. The prevailing macroeconomic environment is making it difficult for consumers and the financial advisers handling their investment portfolios to figure out what comes next… Will we seek rate hikes up the wazoo this year, or something less frightening? PS: ‘up the wazoo’ is an idiom meaning ‘in large quantities’, and not something you scream at the Eskom board when you hear about permanent Stage 2-3 loadshedding.

quick poll

Question

If you had to hazard a guess, when do you reckon the COFI Bill will be signed into law?

Answer

2026, as promised 2027 looks more likely Impossible to say More consultation needed

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