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Repo rate cut by 25 basis points

16 January 2020, 4:17 PM  |
SABC SABC |  @SABCNews
South African Reserve Bank Governor Lesetja Kganyago during an interview.

South African Reserve Bank Governor Lesetja Kganyago during an interview.

Image: SABC News

South African Reserve Bank Governor Lesetja Kganyago during an interview.

The Reserve Bank‘s Monetary Policy Committee has decided to cut the repo rate by 25 basis points to 6.25%. This means the prime lending rate will reduce to from 10% to 9.75%.

Reserve Bank Governor Lesetja Kganyango made the announcement in Pretoria a short while ago.  Kganyago told the media that there were risks to rising inflation as well as electricity and water tariffs.

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