Interest Rates cut to 11%

Home Loan Interest Rate News: Interest Rates cut to 11% The South African Reserve Bank (SARB) governor, Tito Mboweni, today announced a 1% drop in the repo rate from 8.5% to 7.5%. This is the fifth successive rate cut since Jun 08. The prime interest rate now drops to 11%. Read more…

Are local banks filling their own pockets first?

Why the reserve bank governor wants to meet with the major banks.
An interesting trend is emerging that has sparked the interest of the South African Reserve Bank (SARB) governor, Tito Mboweni. The Reserve Bank has been rapidly cutting interest rates to stimulate economic growth and kick start the local property market.