BUSINESS NEWS - Despite a decision to cut the repo rate, the Reserve Bank has warned it will not hesitate to reverse the decision, if the economic outlook deteriorates.
On Thursday, the central bank announced some much-needed, albeit slight, relief for indebted consumers, reducing the repo rate by 25 basis points to 6.75%.
The prime lending rate, which is the interest rate charged by banks, will drop from 10.5% to 10.25%.
While he may have agreed to cut the repo rate, but in making the announcement, Reserve Bank Governor Lesetja Kganyago stressed a number of concerns.
“Although the rand has been relatively resilient, it remains vulnerable to heightened political uncertainty, global monetary policy developments and possible further credit rating downgrades.”
Reserve Bank to act swiftly on repo rate if outlook deteriorates
Read more about:
reserve bank
repo rate
deteriorate
More Group Editors Publications & Online Platforms
Suid-Kaap Forum proudly displays the “FAIR” stamp of the Press Council of South Africa, indicating our commitment to adhere to the Code of Ethics for Print and online media which prescribes that our reportage is truthful, accurate and fair. Should you wish to lodge a complaint about our news coverage, please lodge a complaint on the Press Council’s website, www.presscouncil.org.za or email the complaint to enquiries@ombudsman.org.za. Contact the Press Council on 0114843612.
Copyright 2025 Group Editors Company (Pty) Ltd, Registration Number 1963/002133/07 t/a Suid-Kaap Forum
