Interest Rate Cut, but Reserve Bank Concerned that Rand Strength Is Temporary

South Africa cuts interest rate as inflation eases

South Africa’s central bank cut its benchmark interest rate by 25 basis points to 7.25%, the lowest level in more than two years. The National Treasury’s decision to scrap plans to raise value-added tax, as well as a stronger exchange-rate assumption, and lower oil prices all helped to revise down inflation forecasts, paving the way for a rate cut.The central bank’s decision is the first since South Africa’s inflation target was lowered to 3% th…

South Africa: Government Welcomes Interest Rate Cut

[SAnews.gov.za] Government has welcomed the South African Reserve Bank's (SARB) decision to cut the repo rate by 25 basis points to 6.75%, with the prime lending rate now at 10.25%.

SARB votes to CUT interest rates in good news for South Africans in debt

The South African Reserve Bank (SARB) has voted to cut interest rates by 25 basis points in a decision that brought welcome relief to those South Africans in debt. The repo rate now stands at 6.75% while the prime lending rate is 10.25%. Governor Lesetja Kganyago announced the decision at a press briefing on Thursday. The SARB’s Monetary Policy Committee’s (MPC) six members were unanimous in making the decision. The November meeting marks the fi…

Reserve Bank cuts repo rate to 6.75%: What it means for homeowners

The South African Reserve Bank's Monetary Policy Committee has unanimously decided to lower the repo rate to 6.75%, providing relief for homeowners and signalling a positive shift in the inflation outlook.

Interest rate cut, but Reserve Bank concerned that rand strength is temporary

Reserve Bank Governor Lesetja Kganyago announced the first interest rate cut since July on Thursday, of 25 basis points, bringing the total cut since September 2024 to 1.5 basis points.

Lula comments on repo rate announcement - SME Tech Guru

Today’s decision by the SARB Monetary Policy Committee to cut the repo rate, delivers much-needed relief that South Africa’s small and medium-sized businesses have been waiting for. For far too long, the punitive cost of borrowing has stifled investment and squeezed cash flow, says SME services provider Lula. “A decrease in the repo rate immediately improves the operating environment for entrepreneurs: it lowers the cost of servicing existing …