In light of recent events and the turmoil that was 2016, the future looks uncertain for South Africa. With a rocky road ahead of us, the SA risk factor is one of the worst in the world- we are one of the top 10 risks to the world in 2017 when looking at economic unrest and internal politics.
Economic times are likely to remain challenging in 2017, and South African consumers are very much in for a rough ride in 2017. Continue reading
What are Silly Spenders and are you one of them?
As the cost of groceries soars, South Africans are turning to cheaper, unhealthier foods, as well as buying groceries on credit simply to survive. Having monitored food prices since 2006, the Pietermaritzburg Agency for Community Social Action (Pacsa) found this to be the case.
The soaring price of groceries is having an adverse effect on the health and diets of South Africans, warned the Heart and Stroke Foundation of South Africa. Christelle Crickmore of the Foundation said, Continue reading
Suspend Inflation Targeting
The South African Reserve Bank’s (Sarb) monetary policy committee (MPC) should acknowledge that exogenous (external) forces, particularly drought, are driving inflation. Thus, it should suspend inflation targeting temporarily say expert economists. Continue reading
A Higher Interest Rate Environment
You may be wondering how you should save and invest now that the South African Reserve Bank (SARB) has hiked the repo rate by 25 basis points up to 6.25%, if you are one of the millions of South Africans already under financial pressure. Continue reading
Sarb Ups the Ante
Yesterday, 19th November 2015, interest rates were hiked by 0.25%, by the South African Reserve Bank’s (Sarb) monetary policy committee (MPC). As a result, credit users and over-indebted consumers can anticipate a tight, stark Christmas 2015 and New Year 2016.
The repo rate now stands at 6.25% and the prime lending rate at 9.75% announced Lesetja Kganyago, the governor of Sarb on Thursday. Continue reading
- SA retail petrol prices will increase by 3.6% and wholesale diesel will increase by 4.4% on Wednesday, June 3.
- Petrol will cost R13.36 and diesel will cost R11.67.
- The repo rate will remain at 5.75% for the moment.
The CFVI is a measure of our perception of our cash flow, buying power and general financial position as consumers, and this perception is continually affected by our changing economic environment.
In South Africa, the CFVI fell from 51.4 in the third quarter of 2014 to 51.2 points in the fourth. Continue reading