Thursday, May 29, 2008
Problems in the South African economy
IOL (South Africa): Tito hints at huge hike
"Consumers and unions are reeling in shock after SA Reserve Bank governor Tito Mboweni hinted on Wednesday he may raise the benchmark interest rate by two percentage points next month to help bring inflation back within the target range."
Wonder how house prices are doing there. Loads of people from the UK bought houses in Cape Town. Wonder what they are worth now?
I wonder how they feel about the security situation?
Posted by last_days_of_disco @ 11:33 AM (263 views) Add Comment
2 Comments
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1. icarus said...
Anybody from the UK who bought in South Africa two or three years ago would be doing rather well on the exchange rate alone. Southern Africa is one of the few places in the world where the £ is a hard currency.
2. lvmreader said...
In Defence of Currency....