Experts in the property market have welcomed the South African Reserve Bank’s latest decision to keep interest rates on hold.
Samuel Seeff, chairman of the Seeff Property Group, Dr Andrew Golding, chief executive of the Pam Golding Property Group and Tyson Properties’ chairman Chris Tyson and chief executive Nick Pearson all welcomed the decision from the SARB’s MPC. “Given the ongoing upside risks to the inflation outlook, the bank may well not hike rates further but rather err on the side of caution by keeping interest rates higher for longer – in other words, cut interest rates later than some economists are expecting,” he said.