Reserve Bank Repo Rate

biometrics

biometrics

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Oct 17, 2019
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20,338
The SA Reserve Bank has cut the repo rate by 100 basis points, or one percentage point. This brings SA's repo rate to 4.25%.

www.fin24.com

Reserve Bank again cuts repo rate by 1 percentage point; predicts 6.1% fall in GDP for 2020 | Business

Tuesday's announcement was the second major cut in less than a month.
www.fin24.com www.fin24.com

www.timeslive.co.za

Bank cuts repo rate by one percentage point: interest rates at all-time low

The Bank brought forward its May meeting to Tuesday, and cut interest rates for the third time in 2020
www.timeslive.co.za www.timeslive.co.za
 
Badballie

Badballie

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May 2, 2020
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Dont know if it is a good thing or not .
I know a few people that live of interest , stock markets gone to shit , lot of people are going to battle with all this shit going on.
Non of the above affect me thank heaven .
 
W

wingnut771

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May 6, 2020
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Badballie said:
Dont know if it is a good thing or not .
I know a few people that live of interest , stock markets gone to shit , lot of people are going to battle with all this shit going on.
Non of the above affect me thank heaven .
Click to expand...
i vote not good, my money market savings interest keeps going down.
 
biometrics

biometrics

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Oct 17, 2019
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Trying to sell a paid property (now stalled) to invest in this property which is mostly bonded, and I’m saving several thousand a month. With my salary reduced this helps.
 
E

e4et

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May 3, 2020
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Same.
Only getting half my salary, so this shaves a bit off the bond.
 
Snyper564

Snyper564

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AdrianH said:
Yeah, but you'll work until 70 due to kak retirement investments
Click to expand...
Nah - not for me :) I have been saving and managing my funds aggressively, I save way more than I earn and beyond my bond I dont have a cent of debt. As promotions and increases/bonuses came, I tried to keep lifestyle the same as much as possible. Still drive my corsa lite and its going fine once house is paid ill upgrade that (car) cash even if it take another year or two. No kids in the picture yet so I can do that for now :)
 
Bandit

Bandit

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May 1, 2020
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On me ship!
AdrianH said:
Yeah, but you'll work until 70 due to kak retirement investments
Click to expand...

Nobody gets rich earning interest. Broad based offshore ETFs are up 20% plus, Rhodium has returned over 100% from the low of the crash.

It can go South quick, sure, but in two months you would've earned more than 5 years'bank interest.

My parents though are earning way less on their retirement funds. That's a tough pill to swallow: work your ass off for decades and then get screwed like this in your old day.
 
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