Interest rate hold offers 'breathing room, not a free pass': How to protect your property budget

The Monetary Policy Committee (MPC) has given the property market breathing room but not a free pass.

An interest rate hold does not mean the pressure on households is over.

Inflation remains high, and the Monetary Policy Committee (MPC) has made it clear that another increase is possible if prices continue to rise, says Ezra Rasethe, president and CEO of investRand.

On Thursday, Lesetja Kganyago, the Governor at the South African Reserve Bank(SARB), said the committee decided to keep the policy rate unchanged, at 7%, and the prime at 10.50%.

“We welcome the MPC's decision to keep the policy rate unchanged at 7.00%,” Rasethe says.