With good news in short supply it’s good to hear that some economists believe significant interest rate cuts are just around the corner.

According to Rian le Roux, chief economist at Old Mutual Investment Group (SA) (Omigsa) the South African Reserve Bank (SARB) is likely to begin lowering interest rates much earlier than previously expected and the urgency for a cut already at the next Monetary Policy Committee meeting on 11 December is building.

Lenders who hold borrower’s payment cards or Identity Documents face the prospect of being arrested and sent to prison. This is the message from South African Social Security Agency (SASSA) CEO, Fezile Makiwane.

Vehicle owners are in for yet another blow as insurance premiums and accident write-offs look set to soar. A depreciating rand will drive up the cost of vehicle replacement parts and the cost of overseas reinsurance.

According to Chris Hart, Chief Economist at Investment Solutions, the global crisis could see global growth and possibly also South African growth, face the prospect of negative GDP in the fourth quarter of this year.

Speaking at a conference on the impact of the US election on South Africa and Africa, he said there are important implications of the credit crisis for the country and the continent.