Homeowners’ budgets may have a little more wiggle room to start saving again now that interest rates have dropped and inflation has decreased.
The Monetary Policy Committee (MPC) of the South African Reserve Bank (SARB) lowered interest rates in September. The repo rate fell from 8.25% to 8%, a decrease of 25 basis points (bps).
Having emergency funds on hand is essential to being more financially independent, particularly if you are a property owner.
“The MPC ultimately reached consensus on 25 basis points, agreeing that a less restrictive stance was consistent with sustainably lower inflation over the medium term”
Reserve Bank Governor, Lesetja Kganyago
Read the full article here: “Save for a rainy day: How to save for your emergency savings as a homeowner”
