No stopping SA's buying mania
South African retail sales growth jumped to 10.1% year-on-year in March, official data showed on Wednesday, pointing to consumer spending staying high and backing a case for higher interest rates.
StatsSA said retail sales quickened from an annualised 8.0% in February, and increased by 9.3% in the three months to the end of March compared to the same period the previous year.
Maybe Tito will grow a pair and hike it by a full percentage this time.
2 comments:
It would be great if we can have a quick crash without any more rate hikes, but that is wishful thinking
I am losing trust in the official inflation figures of all countries. My SA suppliers are hitting me with price increases every few months ... food increases are in double digits, rent goes up 10% a year ... real SA inflation is much higher than the figure quoted.
Likewise overseas. If the US calculated inflation in the way it did in the past it would be at 10% according to experts.
Same story in the UK - inflation as it used to be calculated is 5% rather than the 3% that is used nowadays to make policy decisions.
All the finance ministers know that interest rates have to go up, but they are running scared because they realise that will be the trigger that heralds the crash ... they are delaying the inevitable ... but the longer they wait the worse the collapse will be.
We need a few brave men out there doing what needs to be done. Making threats of raising rates if people don't stop spending is all a bit pathetic ... oh, I won't buy that sparkly new car this month because that nice man Manuel said I must stop spending ...
Post a Comment