- Repo rate reduced to 6.75% amid easing inflation
- Government says cut will ease living costs and support growth
JOHANNESBURG, SOUTH AFRICA – South Africa on Thursday cut its benchmark interest rate by 25 basis points, marking the first policy move since the country adopted a new inflation-targeting framework.
South Africa’s government has welcomed the Reserve Bank’s decision to lower the repo rate to 6.75%, with the prime lending rate now at 10.25%, after the Monetary Policy Committee (MPC) voted unanimously for the cut.
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