💨 Abstract

The South African Reserve Bank is expected to cut interest rates further in November, offering relief to South Africans in debt. The repo rate currently stands at 8% and the prime lending rate at 11.50%. The MPC had previously increased rates by 475 basis points since 2021, causing financial strain for many South Africans.

Courtesy: www.thesouthafrican.com

Summarized by Einstein Beta 🤖