SA’s Homeowners Await Financial Relief as Reserve Bank Keeps Rates Unchanged

South Africa’s BetterBond has announced that homeowners will need to wait longer for financial relief as the South African Reserve Bank’s Monetary Policy Committee has unanimously decided to maintain the repo rate at 8.25%. Similarly, the prime lending rate will remain at 11.75%. Interim CEO of BetterBond, Bradd Bendall, expressed hope for a rate cut this month due to a drop in inflation expectations for the next two years. However, the decision to keep rates unchanged signals a delay in providing relief to homeowners.