Prime Interest Rate

The South African Reserve Bank’s (SARB) Monetary Policy Committee (MPC) has decided to cut the interest rate by 25 basis points for the fourth quarter of 2024. The repo rate was cut by 25 bps and will fall from 8% to 7.75%. This means the prime lending rate will also drop from 11.5% to 11.25%. The repo rate had been on a 14-year high before the MPC made a much needed cut in...

The Monetary Policy Committee (MPC) for the South African Reserve Bank (Sarb) has cut the interest rate by 25 basis points which means that homeowners will save on their monthly home loan repayments. However, to reap the best rewards of the repo rate cuts long term, homeowners are being urged to carry on paying their home loans at the pre-interest rates level, which could save them over two and half years...

The SA Reserve Bank cut the repo rate by 0.25 basis points today, the first time South Africans have seen a rate cut in four years.While the cut was welcomed, some say it should have been by 0.5 basis points and believed the SARB acted too conservatively.The announcement came hot off the tail of the US Federal Reserve’s announcement yesterday that it had reduced the target for its key lending rate by 0.5...

South African homeowners can breathe a sigh of relief as the South African Reserve Bank (SARB) has announced an interest rate cut which can have a significant impact on monthly home loan repayments. The SARB Monetary Policy Committee (MPC) has cut the interest rate by 25 basis points from 8.25% to 8%. Prime lending rate in the country dropped from 11.75% to 11.50%.The drop in the repo rate comes after no...

The SA Reserve Bank cut the repo rate by 0.25 basis points today, the first time South Africans have seen a rate cut in four years.While the cut was welcomed, some say it should have been by 0.5 basis points and believed the SARB acted too conservatively.The announcement came hot off the tail of the US Federal Reserve’s announcement yesterday that it had reduced the target for its key lending rate by 0.5...

The South African Reserve Bank’s (SARB) Monetary Policy Committee (MPC) has decided to finally cut the interest rate. The repo rate was cut by 25 basis points (bps) and will fall from 8.25% to 8%. This means the prime lending rate will drop from 11.75% to 11.50%. The repo rate had been on a 14-year high before this cut by the MPC. The Reserve Bank Governor, Lesetja Kganyago said in...

By Vivian WarbyEveryone is wondering if the SA Reserve Bank will lower interest rates by up to 0.5 percentage points later today and follow the lead of the US central bank who yesterday lowered interest rates for the first time in more than four years with a bigger than usual cut. The Federal Reserve reduced the target for its key lending rate by 0.5 percentage points, to the range of 4.75%-5%.If the SARB...

Now is the time for an interest rate cut to help financially stretched South Africans to get some much needed relief in the form of a 25 basis points cut in the repo rate. This is the view of Seeff Property Group chairman, Samuel Seeff, who said that the interest rates had been too high for too long and cannot be delayed any longer. He said the high interest rates had already caused more damage than...

South African consumers will be waiting with bated breath this week, hoping for news of a cut in interest rates when the South African Reserve Bank’s (SARB) Monetary Policy Committee (MPC) meets. On Thursday, the nation will find out if they will get some leeway in their monthly budgets as SARB Governor Lesetja Kganyago announces the bank’s decision. The repo rate is currently at a...

Cuts in interest rates could make property investment more attractive to investors, according to commercial real estate firm Cushman & Wakefield: BROLL. The firm said that from this month, several central banks are expected to cut interest rates.US Federal Reserve Chair Jerome Powell was the latest to support the start of interest rate cuts, telling a group of economists and policymakers that “the time...