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. 🙂