Author: M. Muller
14 April 2020

REPO RATE AMENDMENT BRINGS INTEREST RATE CUTS

The Reserve Bank’s Monetary Policy Committee announced that it has decided to cut the interest rate by 100 basis points, or one percent, which brings the repo rate to 4,25%.  This will be effective from:  15 April 2020

This brings the prime lending rate down to:  7.75%….   last seen in South Africa in 1973