From The Dispatch
Rates could come down sooner rather than later, Sasfin market commentator David Shapiro speculated yesterday.The reason is that South Africa's infrastructure development projects relied heavily on the availability of cash. If there was not enough cash available, South African Reserve Bank Governor Tito Mboweni would have to kick-start the process by reducing interest rates, he said.
At the moment it is just speculation, but sooner or later the rates will have to come down. Until then, get a savings account, transfer the balance on your credit card, consolidate your debt, and sit tight.