Watch that debt - Mboweni will lift rates if necessary
South Africa's cycle of rising rates might not yet be over, Reserve Bank governor Tito Mboweni warned yesterday.
The comment came in his first public speech since the monetary policy committee (MPC) decided on February 15 to keep the official repo rate at 9 percent - after a rise of 200 basis points last year.
"There might be those who think, 'That's the end of it,' and they can start piling up debt again," he told a meeting of the National Consumer Forum.
"If I were you, I would take advantage of this time to get rid of that debt and read just the household balance sheets."
1 comment:
Hi HTB great blog and the only website covering the South African property market from a bearish prospective. You may be interested to know that the Irish property market has slowed of late with inventory building by 200%+ and prices falling in some areas.
keep up the good work and check out the http://www.thepropertypin.com/forum/ for discussion on the Irish property bubble.
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