Kunokuqagela okuningi maqondana nokuthi iBhangengodla laseNingizimu Afrika lizolinciphisa yini izingasilinganiso lemalimboleko makhathaleni ngokuhamba konyaka. Njengomphathiswa wesikhwama, kusemqoka ukuthi uwuqonde umthelela wokuncishiswa noma wokukhushulwa kwezingasilinganiso lenzalo empahleni yesikhwama sakho somhlalaphansi.
Umthelela empahleni yesikhwama somhlalaphansi uzoncika ekutheni iyiphi impahla esitshale kuyona izimali isikhwama, isimo somnotho, kanye negunya lesikhwama. Ngokuvamile kunezigaba ezinhlanu zempahla: amathuluzi ezikweletu, imali engukheshi, izabelokulingana (amasheya), impahla kanye nempahlakuhweba, kanye nenye impahla ehlukile. (Chofa lapha uma ufuna ukubuyekeza ulwazi olumayelana nezigaba zempahla.)
Yini izingasilinganiso lenzalo?
Izingasilinganiso lenzalo linobuhle kanye nobubi balo, okuya ngokuthi isikhwama somhlalaphansi noma izinkampani otshale kuzona imali ziboleka imali noma ziyabolekisa. Ngolimi olulula, izingasilinganiso lenzalo yizindleko zokuboleka imali noma inzuzo yotshalomali etholakala emalini ebolekisiwe.
1. Amathuluzi ezikweletu
Izikhwama zomhlalaphansi zitshala izimali esikweletini. Lesi “sikweletu” ngokujwayelekile kuye kube ngamabhondi kahulumeni lapho isikhwama somhlalaphansi sibolekisa ngemali kuhulumeni isikhathi esithile esinqunyiwe ukuze akhe imiklamo yengqalasizinda, ukwenza nje isibonelo. Isikhwama sithola izinkokhelo zenzalo njalo kwibhondi. Lama bhondi futhi angathengwa noma athengiswe njengoba engamathuluzi okungahwebelwana ngawo.
Amanani entengo amabhondi kanye namazingasilinganiso enzalo anobudlelwano obuphambanayo. Uma ekhuphuka amazingasilinganiso enzalo, ayehla amanani entengo alawo mabhondi akhona njengamanje (amadala) futhi uma ehla amazingasilinganiso enzalo, ayakhuphuka amanani entengo amabhondi akhona njengamanje. Lokhu kungenxa yokuthi amabhondi amadala, okungamabhondi anamazingasilinganiso enzalo aphakeme, akhanga kakhudlwana uma eqhathaniswa namabhondi amasha akhishwe ngamazingasilinganiso aphansi. Uma isikhwama somhlalaphansi siwagcina amabhondi, inanibungako lalawa mabhondi akuphothifoliyo kungenzeka likhuphuke. (Ubudlelwano phakathi kwamabhondi asanda kukhishwa kanye namazingasilinganiso enzalo buthanda ukuba yinkimbinkimbi kakhulu. Sizoxoxa ngalokhu ngokuhamba kwesikhathi.)
Iningi lamabhondi ngamabhondi anezingasilinganiso lenzalo elingaguquki, okusho ukuthi inzalo ekhokhwa ngenyanga iyisamba esithile esinqunyiwe; ngakho-ke, ukukhuphuka nokwehla kwamazingasilinganiso enzalo ngeke kube nomthelela kwingenisomali etholwa yisikhwama somhlalaphansi nyangazonke.
Amathuluzi ezikweletu = Amabhondi = Izingcebosisekelo zengenisomali engaguquki
2. Isabelokulingana
Ngokujwayelekile, isabelokulingana kanye namazingasilinganiso enzalo kunobudlelwano obuphambanayo; kodwa-ke lokhu akwenzeki ngqo ngendlela okwenzeka ngayo kumathuluzi ezikweletu. Uma iBhangengodla lehlisa izingasilinganiso lenzalo ngokuvamile inhloso kusuke kuwukukhuthaza ukukhula komnotho. Izinkampani kungenzeka zikuthole kungambi eqolo ukuboleka imali, okuyinto engakhuthaza ukukhiqiza, ucwaningo kanye nentuthuko; kanye nezinzuzo zenkampani. Ngenxa yalokho-ke, amanani entengo amasheya kungenzeka akhuphuke, okungaba nomthelela omuhle kwingxenye yezabelokulingana zesikhwama somhlalaphansi. Kwesinye isikhathi kunokwenzeka ukuthi kwenzeke into ephambene nalokhu; izingasilinganiso lenzalo eliphakeme lenza kumbe eqolo ukuboleka, okuyinto edodobalisa imisebenzi yomnotho. Izinkampani kungenzeka zikuthole kunzima ukukhokhela izimalimboleko futhi zingakwazi ukwethula imikhiqizo nemikhankaso emisha. Zonke lezi zimo zingaholela ekwehleni kwenani lentengo lamasheya, futhi okuyinto engabalimaza abaninimasheya abakhulu abanjengezikhwama zomhlalaphansi.
3. Impahla ebambekayo
Inanibungako lempahla ebambekayo kanye namazingasilinganiso enzalo kunobudlelwano obuphambanayo. Izikhwama zomhlalaphansi zingatshala izimali empahleni ebambekayo ngokuthenga izakhiwo/umhlaba noma ngokutshala izimali kuma-Real Estate Investment Trusts (REITs).
Ukukhula kwezingasilinganiso lenzalo kwenza kumbe eqolo kakhulu ukukhokhela izimalimboleko zezakhiwo/zomhlaba kanye nokuthenga izakhiwo/umhlaba omusha. Lokhu kungaholela ekwehleni kwemfunosidingo emakethe yezakhiwo/yomhlaba, okuyinto engadala ukwehla kwenanibungako lezakhiwo/lomhlaba. Zombili lezi zimo ezinokwenzeka zingalimaza impahla eyizakhiwo/umhlaba yesikhwama sakho somhlalaphansi.
Kodwa-ke, amazingasilinganiso enzalo aphansi akhuthaza imisebenzi yebhizinisi emakethe yezakhiwo/yomhlaba njengoba kuba lula ukuthola izimalimboleko. Lokhu kukhuthaza imfunosidingo yezakhiwo/yomhlaba futhi kunomthelela omuhle empahleni.
4. Izimpahlakuhweba
Nakuba lokhu kuyinto enobunkimbinkimbi, ngolimi olulula, izimpahlakuhweba zinobudlelwano obuphambanayo namazingasilinganiso enzalo obufana njengalobo bempahla ebambekayo kanye namabhondi. Lokhu ikakhulukazi kungenxa yokuthi amazingasilinganiso enzalo anomthelela ezindlekweni zokugcina izimpahlakuhweba. Esimweni lapho kunamazingasilinganiso enzalo aphansi, futhi lapho kushibhile ukugcina izimpahlakuhweba, amabhizinisi avamise ukuthenga isitokwe sempahla eningi, okuyinto ekhuphula amanani entengo. Kungenzeka likhuphuke inanibungako lotshalomali lwesikhwama somhlalaphansi olutshalwe kwizimpahlakuhweba.
5. Imali engukheshi
Uma isikhwama somhlalaphansi sigcine isamba esikhulu semali engukheshi noma okunye okuthi makufane nokheshi, amazingasilinganiso enzalo aphansi angaholela ekutheni yehle ingenisomali evela kulolu tshalomali. Izikhwama zosisomali lwezimakethe zivamise ukuthola inzuzo ephansi lapho amazingasilinganiso enzalo ephansi, ukwenza nje isibonelo.
6. Utshalomali olwehlukile
Lena yimpahlamnotho yezimali engangeni ngaphansi kwezigaba ezijwayelekile zempahla. Lokhu kubandakanya izabelokulingana zokuthengwa nokuthengiswa kwamabhizinisi azimele, ukutshalwa kwemali ngokubambisana kanye nengqalasizinda. Njengoba kwenzeka nasempahleni eyizakhiwo/umhlaba kanye namabhondi, utshalomali olwehlukile luvamise ukwehla ngenkathi amazingasilinganiso ekhuphuka. Utshalomali olwehlukile luvamise ukuba nobungozi obukhulu futhi amafemu ezabelokulingana zokuthengwa nokuthengiswa kwamabhizinisi azimele adinga izindodla ngezindodla zengqalabhizinisi evela kubatshalizimali abahlukahlukene ukuze amabhizinisi asanda kusungulwa adlondlobale afinyelele ezingeni elilandelayo. Ngenxa yokukhula kwezindleko zengqalabhizinisi, kuyaye kube yinto ethanda ukuba nzima kakhulu ukuthola uxhasomali olwengeziwe. Ngaphandle nje kokuvimbela labo abangaba nothando lokutshala izimali, amazingasilinganiso enzalo aphakeme avamise ukukhuphula izindleko zokukhokhela isikweletu esikhona njengamanje. Lesi simo singawacwilisa ezikweletini lama femu, okungaholela ekutheni kube nomthelela ongemuhle kwingxenye yotshalomali olwehlukile yephothifoliyo yesikhwama somhlalaphansi.
Umthelela odalwa amazingasilinganiso enzalo aguquguqukayo uphinda futhi ubonise ukubaluleka kokuthi ungawagcini kubhasikidi owodwa wonke amaqanda akho. Isikhwama somhlalaphansi esinephothifoliyo yokutshalwa kwemali ezinhlelweni zokutshalwa kwemali ezihlukahlukene ezibandakanya izigaba zempahla exubile sizoba sesimweni esikahle sokumelana nezinguquko kumazingasilinganiso enzalo.
Sources:
How interest rates affect your finances
Investopedia: Inverse relation between interest rates and bond prices
Reason Foundation: How high interest rates impact public pension systems
Tickertape: The impact of interest rates on real estate investments
US Bank: How do interest rates affect investments?
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