Reserve bank cuts repo rate amid declining inflation
The South African Reserve Bank’s Monetary Policy Committee (MPC) announced a 25-basis-point reduction in the repo rate to 7.75% on Thursday. This follows data released on Wednesday, which showed inflation falling to 2.8% in October, below the bank’s target range of 3% to 6%. As a result, the prime lending rate now stands at 11.25%. Economist Dawie Roodt noted that the rate cut was widely anticipated, particularly after the positive […]
