Rate cut could give you a little budgetary wriggle room
It may be hundreds, rather than thousands, but use it wisely, especially amid the Covid-19 pandemic
The interest rate cut by the Reserve Bank may put a few hundred rand back in borrowers’ pockets during a tough economic time. However, if you can manage without spending it, it would be wise to keep paying your bills at the current level to reduce your debt and future interest rate payments.
The Bank’s monetary policy committee (MPC) announcement on Thursday was a breath of fresh air in a world gone mad as the spreading coronavirus disrupts businesses and financial markets...