CITY VIEWS: SHOULD INTEREST RATES RISE?
JAQUES VANZYL ALLIED WORLD ASSURANCE
“At the moment I’m happy with the current rate. I have a flexible rate on my mortgage so my payments are very low. On the other hand, we also have savings and they have taken a hit, so it’s a bit of a conundrum. I’m looking for a fixed rate mortgage deal so we won’t get stung. If rates are put up it could jeopardise recovery, as prices are already rising and people will struggle.”
MIKE FREEMAN XCHANGING
“I’m about to buy my first home so I would like interest rates to go up, so there is more downward pressure on house prices. From a national perspective, I think they should suppress interest rates for a couple more months. It can’t continue the way it is for too much longer. Also there needs to be some sort of reward for savers at this point, or we risk going back to the days of reckless spending whatever the cost.”
ATOM O’CONNOR FREELANCE CONSULTANT
“I don’t think it’s the right time for rates to go back up. The current rate gives the economy a chance to recover, and it’s not ready for a rise yet. I believe it’s the best way of getting the country back on its feet and encouraging investment. It will affect everyone on a personal level too, as we’ve had a long period of low interest and we have gotten used to having more to spend. “