SARB hikes interest rates

The South African Reserve Bank’s Monetary Policy Committee just announced a moment ago that they are hiking interest rates by 25 basis points, effective tomorrow, 24 July 2015.

They stated the usual concerns of weak economic growth, inflation expectations and keeping up with the Jones’, so to say, in that the US Fed is also expected to raise rates later this year.

Following the MPC’s announcement, I read with amusement the advice offered to debt-trapped consumers by experts like Angelique Ruzicka of Justmoney: “It’s possible to cushion yourself from this this rate hike blow and other increases through adjusting your spending behaviour or boosting your income in other ways.”

Well blimey me! I could never have thought of such a novel solution. Thanks Angelique!

The truth is, unfortunately, if you are over-exposed to debt and you haven’t made provisions to prepare for the possibility of higher interest rates by now, then there probably is not much use giving you any financial advice at all. I will spend my words wisely and wish you good luck instead.

My friends tell me I’ve have become a bit more cynical with age.

Happy Thursday everyone. πŸ™‚

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  1. Jynx

    Scalping that would have taken out some stops for sure. USDZAR spread way too high anyway…

    (Dude, if possible… a little less black for background and little less white for foreground. The contrast is a bit kwaai. If it’s just me, please ignore πŸ™‚ )

  2. Francois Viljoen

    @Jynx:

    I’m going to lie to you like a climate scientist looking for a research grant and say that my website’s theme is white on black because I’m saving the world from global warming. Most displays use more energy displaying light backgrounds.

    The truth is that I designed this website during my Gothic/Rasta phase (think bare feet, leather pants, dreadlocks and Earth metal) and I’m too lazy to change it.

    Thanks for stopping by. πŸ™‚

  3. Andries

    I quite like your design and the colour schemes. #Matrix-decor πŸ™‚

  4. Jynx

    Aag OK Andries πŸ™‚

  5. Dedre

    Francois. Thank you for such an informative website. I just want to know if there is a fixed period in which we can expect repo rate change announcements. Like say every odd month. Or is the decision announced randomly? I am setting up interest and debt schedules and I want to schedule in my calendar when they should be revised. Thanks.

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