JOHANNESBURG – Economists have said that the decision by the South African Reserve Bank to reduce its repurchase rate by 25 point basis would bring some much-needed relief to consumers.
"Following a contraction in GDP during the first quarter, we look forward to improved conditions later in the year based on expectations of a good rebound and this, coupled with lower interest rates, may aid the anticipated recovery." John Jack, chief executive commercial real estate consultancy Galetti Corporate Real Estate, said the interest rates cuts will boost the country’s flagging economy, but warned that it may not stem the tide against falling property values.
"The announcement is good news for workers forced to tighten their belts to the limit as relentless price increases eat away at what is left of their hard-earned disposable income," Mazhindu said.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Malaysia Malaysia Latest News, Malaysia Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
SA men are paid more than women - report | IOL Business ReportThe new PwC executive directors practices and remuneration trends report for South Africa showed that women are paid less than men in every industry.
Source: IOL - 🏆 46. / 51 Read more »
WATCH: SA Reserve bank cuts interest rates | IOL Business ReportSouth African Reserve Bank Governor Lesetja Kganyago announced today the bank's latest decision on interest rates.
Source: IOL - 🏆 46. / 51 Read more »
EOH: The suspicious transactions inside the company | IOL Business ReportEOH holdings tumbled on the JSE after an investigation revealed the rot that involved a series of suspicious transactions by a group of individuals
Source: IOL - 🏆 46. / 51 Read more »
Zimbabwe public worker strike on the cards after pay offer rejected | IOL Business ReportZimbabwe’s public sector workers on Tuesday night rejected the government’s latest pay offer.
Source: IOL - 🏆 46. / 51 Read more »
Spotify launches an in-app Disney Hub to lure more fans | IOL Business ReportSpotify Technology SA said on Wednesday it will devote a prominent spot in its music streaming app to Walt Disney Co’s extensive music library.
Source: IOL - 🏆 46. / 51 Read more »
These violations could get you banned from using WhatsApp | IOL Business ReportThe company outlines multiple reasons as to how one can get banned in its FAQ and Terms of Service.
Source: IOL - 🏆 46. / 51 Read more »