Low interest is tough on pensioners

2013-11-27 00:00

THE Reserve Bank Monetary Policy Committee’s (MPC) recent decision to keep the repo rate at five percent is good news for most, especially those with high debts, but bad news for pensioners who have to rely on cash savings to live.

Interest rates have not changed since July 2012, 16 months ago. Debt has never been this cheap for many decades.

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