💨 Abstract

The South African Reserve Bank's Monetary Policy Committee cut the interest rate by 25 basis points, reducing the repo rate to 7.25% and the prime lending rate to 10.75%. This decision, supported by five committee members with one favoring a 50 basis point cut, aims to ease the burden on South Africans in debt. The committee meets bi-monthly to review these rates.

Courtesy: Garrin Lambley