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MyMoney Online

SA Reserve Bank cuts repo rate to 3.5% - an all-time low

23 July 2020 3:39 PM

As widely expected, Sarb Governor Lesetja Kganyago announced a repo rate cut of 25 basis points on Thursday.

The South African Reserve Bank (Sarb) Monetary Policy Committee (MPC) has cut the repo rate by 25 basis points, announced Governor Lesetja Kganyago on Thursday.

South African rand notes. Picture: pixabay.com

The repo rate is now at 3.5%, an all-time low.

The usually conservative MPC has shaved 300 basis points off the repo rate so far this year.

(This is a breaking news story. For more detail, listen to Bruce Whitfield’s The Money Show from 6pm.)


23 July 2020 3:39 PM

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