Prime lending rate is now 11.50% the first cut since 2020
Zuko Komisa Image: SA Reserve Bank On Thursday the South African Reserve Bank cut the repo rate by 25 basis points to 8%. The drop means the prime lending rate will also drop to 11.50%. Lesetja Kganyago, the governor of the SARB, stated that the bank's projections call for further progress in inflation when he announced the reduction in the repo rate on Thursday. “In discussing the stance, MPC members […]