INTEREST RATE IS UNCHANGED
Category General News
The South African Reserve Bank met earlier this afternoon and we are pleased to advise that the repo rate was left unchanged at 8.25%, meaning that the current prime lending rate remains at 11.75%.
Since the interest rate hiking cycle started in November 2021, the Monetary Policy Committee has hiked the repo rate ten times by a cumulative 425 basis points and reached a 14-year-high at 8.25% earlier this year. The announcement this afternoon is a relief and a welcome boost for indebted South Africans.
Author: STBB
