Interest rate remains where it is.
The Reserve Bank Governor,Tito Mboweni, has announced that the repo rate will remain where it is for now at 12%.
This will come as a relief to many of us,however experts are predicting that we have not yet seen the worst of the current market.Prices and activity in the residential property market are expected to drop again in the coming twelve months.This will be caused by high inflation,a low amount of disposable income in the household budget and of course the interest rate.
Nevertheless all of us will be happy not to pay even more on credit card repayments.
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