Charlie Bilello, director of research at investment group Pension Partners, put together a comparison of global interest rates - showing that South Africa still offers one of the highest rates in the world.

The repo rate is currently at 6.75% - compared to Brazil (6.50%), China (3.00%) the US (2.38%) and Australia (1.25%). 

Yesterday, India cut its interest rate to the lowest level in nine years, to 5.75%. After inflation, its interest rate is 2.9%. South Africa's "real" interest rate is 2.4%.

It is expected that the SA Reserve Bank will cut rates in July, given that we are heading for a recession. But others are also preparing to cut: the Fed may consider lowering rates as early as June. 

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