The South African Reserve Bank’s Monetary Policy Committee (MPC) opted to keep the repo rate unchanged at 7% following its September meeting, marking the first pause since July. The prime lending rate remains at 10.5%. The decision was a close call, with four members voting to hold rates and two in favour of a 25...
The South African Reserve Bank’s Monetary Policy Committee (MPC) has announced a reduction in the Repo Rate by 25 basis points, effective 31 July 2025. This marks the third rate cut in 2025. The Repo Rate, which serves as the benchmark interest rate at which the Reserve Bank lends to commercial banks, will now be...
On 22 September 2022, the South African Reserve Bank increased interest rates by 75 basis points, just two months after the last interest rate increase. The latest increase resulted in rates returning to their pre-pandemic levels. The 75 basis point hike was favourably voted for by three members of the monetary policy committee. However, two...
On 19 May 2022, the SA Reserve Bank has raised South Africa’s interest rate by an amount citizens have not seen since 2016! The increase of 50 basis points, or half a percentage point, rather than the quarter-point steps lenders and borrowers were expecting. The increase, the largest since 2016, takes the repo rate to 4.75%...
The South African Reserve Bank’s Monetary Policy Committee (MPC) has decided to raise the repo rate by another 25 basis points with effect from 24 March 2022. This increase of 0.25%, positions the Repo Rate at 4.25%, which then also increases the prime lending rate of the commercial banks to 7.75%. Reserve Bank governor Lesetja Kganyago said in...
The South African Reserve Bank (SARB) governor Lesetja Kganyago has announced a 25 basis points increase in the repo rate on Thursday, 27 January 2022. This takes the key rate at which it lends to commercial banks, to 4%. For homeowners with bonds, the interest rate hike means paying more on monthly bond repayments but there...
The South African Reserve Bank’s Monetary Policy Committee (MPC) has decided to raise the Repo Rate by 25 basis points with effect from the 19th of November 2021. We have been quite fortunate in that we haven’t had a rate increase for three years, so it was inevitable that an increase had to happen. This...
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