Lesetja Kganyago

SA Reserve Bank cuts interest rates to 5.25%

Amid disruptions due to the Coronavirus (Covid-19) crisis, the South African Reserve Bank (SARB) has cut interest rates by 100 basis points, from 6.25% to 5.25%, Governor Lesetja Kganyago announced on Thursday.

Good news for South Africans: Reserve Bank cuts Interest rates

South Africa's Reserve Bank on Thursday reduced interest rates from 6.5% to 6.25%., citing concerns about power blackouts, weak rand, and labor conflicts.

Reserve Bank slashes repo rate to 6.5%, bank loans may get cheaper

In a move that may lead to lower property finance, auto and other loans, the South African central bank reduced the lending rate by 25 basis points to 6.5 % per annum as of 19 July 2019.

Rand strengthens on Fed's chair remarks, Kganyago reappointment

The Rand firmed on Wednesday as the dollar weakened after U.S. Federal Reserve Chairman Jerome Powell highlighted risks to the U.S. economy in remarks that could bolster expectations of an interest rate cut later this month.

SA interest rates remain untouched at 6.75%

Reserve Bank Governor, Lesetja Kganyago, on Thursday left interest rates unchanged at 6.75 percent, saying inflation was expected to average 4.5 percent in 2019, down from 4.8 percent.

S.Africa’s repo rate stays 6.75 percent

The repo rate will remain unchanged at 6.75 percent, Reserve Bank governor Lesetja Kganyago announced on Thursday afternoon.

Interest Rates Unchanged

Some good news to start the year off as the Monetary Policy Committee (MPC) announced today that interest rates will remain unchanged. The prime lending rate therefore remains at 10.25% and the repo rate at 6.75%.

South Africa’s economy likely to grow in 2017

South Africa’s economy will get a boost from perkier commodity prices, a benign inflation outlook, and better rains for the agriculture sector this year, a Reuters poll found on Thursday last week.

SA keeps benchmark repo rate on hold but worried about inflation

The Reserve Bank kept its benchmark repo rate unchanged at 7% on Tuesday, in line with expectations, saying the near-term outlook of inflation has deteriorated while the domestic growth outlook remained constrained.

Steady repo rate welcomed as housing market outlook remains weak

The decision by the Monetary Policy Committee of the South African Reserve Bank to leave the repo rate unchanged is most welcome in a climate where the economic and housing market outlook remains weak.

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