PRETORIA, South Africa (CU)_Homeowners and first-time buyers in South Africa have found themselves in a favourable position as the South African Reserve Bank decided to keep interest rates stable.
Although the central bank’s Monetary Policy Committee (MPC) previously announced plans to increase interest rates by 25 basis points in the second quarter, however, last week, the Committee took a U turn and decided to keep interest rates stable, with the repo rate remaining at 3.5 per cent and the prime lending rate at 7 per cent.
This means that…
