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South African Reserve Bank Cuts Repo Rate to 8% in First Reduction Since 2020
The decision to cut the repo rate signals a shift towards a more accommodative monetary policy stance in light of favorable inflation trends and supportive economic indicators.
Reserve Bank cuts repo rate to 8%
“The Sarb [South African Reserve Bank] is likely to mirror this rate path, with cuts expected at the end of the month and continuing through next year. Projections suggest the repo rate will bottom out between 6.25% and 6.75%,” he said.
‘Modest’ rate cut brings some relief to consumers
Consumers can breathe a bit easier following the decision taken on Thursday by the South African Reserve Bank (SARB) monetary policy committee to cut the repo rate by 25 basis points. Announcing the cut,
Reserve Bank cuts repo rate by 25 basis points thanks to diminished risks
Overindebted consumers breathed a sigh of relief as the Reserve Bank decided to but the repo rate after 16 months of no change.
SARB Announces 25 Basis Points Interest Rate Chop, South Africans Not Happy
The South African Reserve Bank Governor Lesetja Kganyago announced that the interest rates have been cut by 25 basis points to 8%, which did not impress many.
Relief at last for South Africans as Reserve Bank cuts interest rate by 25 basis point
The repo rate had been on a 14-year high before this cut by the MPC. The Reserve Bank Governor,
Lesetja
Kganyago
said in discussing the stance, MPC members considered an unchanged stance, a 25bps, and a 50bps cut. “The MPC ultimately reached consensus on ...
South Africa central bank joins easing club with 25 basis point rate cut
South Africa's central bank struck a measured tone after its first rate cut in more than four years on Thursday, saying although inflation had fallen faster than expected there were still risks to the outlook.
South Africa Lowers Interest Rates for First Time Since 2020
South Africa’s central bank cut interest rates for the first time in four years and signaled a more optimistic outlook for inflation.Most Read from BloombergAOC Proposes $30 Billion Social Housing AuthorityCalifornia’s Anti-Speeding Bill Can Be a Traffic Safety BreakthroughNew York City’s Transit System Plans $65.
South Africa Is First Country to Lower Rates After Fed Cut
SARB cut its main benchmark rate by a quarter percentage point to 8%.
South Africa Seen Sticking to Modest Rate Cut Despite Fed Cut
The South African Reserve Bank will likely lower interest rates by 25 basis points on Thursday, despite a larger-than-expected overnight move by the Federal Reserve as it turns the screws on inflation.
The Citizen
1d
Repo rate drops for the first time since 2020
The South African Reserve Bank’s Monetary Policy Committee (MPC) has decided to cut the repo rate by 25 basis points, ...
1d
on MSN
SARB finally announces rate cut
Governor Lesetja Kganyago today announced a cut in the repurchase rate (repo rate) for the country. Kganyago said the central ...
Bizcommunity
1d
SA economy under strain as MPC opts for modest repo-rate cut
The MPC cut South Africa's repo rate by 25 basis points to 8%, citing inflation risks, geopolitical uncertainty, and weak ...
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