How SA’s reshuffle to ‘junk status’ will affect your pocket

A few weeks back we were pencilling in an interest rate cut… the rand was strong… the way things are right now the best scenario is unchanged interest rates… I think there’s a risk of higher interest rates…

Tendani Mantshimuli, Liberty SA Retail

Standard & Poor’s has downgraded South Africa's sovereign credit rating to “junk” on the back of “political and institutional uncertainty” after President Jacob Zuma’s Cabinet reshuffle.

Anxious The Money Show listeners are asking about the effect of the ratings downgrade their finances.

Arabile Gumede (in for Bruce Whitfield) interviewed Liberty SA Retail Consumer Economist Tendani Mantshimuli.

Listen to the interview in the audio below (and/or scroll down for more quotes from it).

We’ve had as much as we can take.

Tendani Mantshimuli, Liberty SA Retail

We have been warned. I don’t think S&P deviated from what they said. This was a long time coming.

Tendani Mantshimuli, Liberty SA Retail

How do you fund radical economic transformation with our growth rate?

Tendani Mantshimuli, Liberty SA Retail

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Article brought to us by Old Mutual.

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