BANKS PREPARE TO PRINT MONEY LIKE THERE’S NO TOMORROW
The Reserve Bank is about to unleash a wave of inflation on the unsuspecting South African public, and no one is stopping them. According to a recent poll, the Reserve Bank will hold interest rates at 8.25% this week, but then proceed to cut them by 25 basis points to 8% in September, and again in November.
But don’t worry, the Reserve Bank assures us that this will not lead to inflationary pressures. Yeah, right. The truth is, the Reserve Bank is just trying to prop up the economy with cheap money, and we’re all just pawns in their game.
ECONOMISTS SELL THEIR SOULS TO THE DEVIL
Eighteen out of 20 economists surveyed said the Reserve Bank would hold interest rates at 8.25%, but two of them were either bribed or threatened into saying otherwise. And the median forecast? A rate cut in September, of course. Because that’s what the Reserve Bank wants to hear.
THE RESERVE BANK IS OUT OF TOUCH WITH REALITY
Gina Schoeman, head of South Africa research at Citi, thinks the Reserve Bank just needs to "manage expectations" around normalizing rates and lowering the inflation target. Yeah, because that’s exactly what we need – more empty promises from the Reserve Bank.
ECONOMIC GROWTH? HA!
Economic growth in South Africa is expected to be a whopping 1% this year and 1.7% in 2025. Wow, that’s exciting. I’m sure the Reserve Bank’s rate cuts will really stimulate the economy and make everyone rich. NOT.
READ NEXT: HOW TO PROTECT YOUR WALLET FROM THE RESERVE BANK’S INFLATIONARY SCHEMES
Don’t believe the hype. The Reserve Bank is just trying to line their own pockets with cheap money, and we’re all just along for the ride. Stay vigilant, and protect your wallet from their inflationary schemes.
