A timely interest rate cut by the South African Reserve Bank

SOUTH AFRICA - Report 28 Mar 2018 by Iraj Abedian

Following a single 25-basis point cut in the benchmark interest rate in 2017 (during the Monetary Policy committee MPC’s July meeting), the South African Reserve Bank has decided to reduce the repo rate for the first time in 2018 by another 25 basis points. This places the repo rate at 6.5% and the prime interest rate at 10%, effective tomorrow.

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