Mboweni warned that the inflation outlook remained under threat, with record levels of credit demand and household debt fuelling domestic demand.
12 October 2006
50bp Repo Rate Hike
Reserve Bank Governor Tito Mboweni hiked the repo rate 50bp (0.5%) today. It's expected to go up another 50bp in December. Tito is still sweating over high debt levels:
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Dear Bubble Boy
This is a cool site, but I have one question: at what point are you going to commit to a real prediction? You've been documenting small bits of sinister evidence for six months now, and we still haven't had a catastrophic plunge in prices; hence I'd like to lay down a friendly challenge:
Put your cards on the table, and tell us straight. Is the bubble bursting right now (i.e. it's a small reverse, maybe a slowing and then a 2% decline in prices)? Or are we still sliding towards the Big One, ala Tokyo?
In short, when's the dark matter going to hit the fan? The problem with predicting doom for too long is that you start sounding like someone crying wolf - or someone waiting long enough for the (inevitable) down-cycles, so that you can say 'I told you so!'
Keep up the good work.
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