South Africa Cuts Interest Rates as Inflation Stabilises

• South Africa’s central bank lowers the repo rate by 25 basis points to boost economic growth
• Sovereign Africa Ratings upgrades the country’s credit rating, citing improved stability

Johannesburg, South Africa – South Africa’s central bank reduced its benchmark interest rate for the first time in over a year, cutting the repo rate by 25 basis points to support economic recovery. The decision, effective January 31, 2025, comes as inflation remains contained and growth prospects improve.