The South African Reserve Bank maintains momentum as it lowers interest rates by a second consecutive 25 bps

SOUTH AFRICA - Report 21 Nov 2024 by Iraj Abedian

The South African Reserve Bank’s (SARB) Monetary Policy Committee (MPC) opted to lower the benchmark interest rate by a further 25 basis points, from 8% to 7.75%, during its final meeting of the year. This represents a second cut since the Bank started lowering rates in September of the current year amid a lower inflationary environment. As a result, the prime lending rate also declined, from 11.50% to 11%.

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