SARB lowers interest rates

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SARB lowers interest rates

The SARB‘s monetary policy committee (MPC) announced today that they’ve decided to lower the repo rate by another 50 basis points.

The latest rate cut brings the repo rate down to to 7.0% and the prime interest rate down to 10.5%.

The move comes as a surprise to many economists who believed that no further rate cuts were in sight.

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