Interest Rates Cut, Kganyago Punts 3% Inflation Target

Interest rate cut welcomed by motor industry amid economic pressures

Reserve Bank announces second repo rate cut of the year, first since January

Reserve Bank governor Lesetja Kganyago announced the second repo rate cut of the year on Thursday afternoon, bringing the repo rate down to 7.25%.

Interest rates cut, Kganyago punts 3% inflation target

As expected by most economists, the South African Reserve Bank’s monetary policy committee lowered the repo rate by 25 basis points to 7.25% — a level last seen in January 2023.

BREAKING: SARB cuts interest rates in GOOD news for South Africans in debt

The South African Reserve Bank’s (SARB) Monetary Policy Committee (MPC) voted to cut interest rates by 25 basis points on Thursday. Five committee members voted to cut the rates by 25 basis points while one other favoured a 50 basis point reduction. As a result, the repo rate now stands at 7.25% while the prime lending rate is 10.75%. Who are the SARB’s MPC? The South African Reserve Bank’s monetary policy committee meets every second month to …

South Africa Central Bank Resumes Rate Cuts to Support Economy

South Africa’s central bank resumed its easing cycle to offer support to a stuttering economy as inflation remains benign.

The Reserve Bank cut the interest rate by 25 basis points on Thursday.