- SARB reduces interest rate by 25 basis points, citing lower inflation and stronger rand
- Move expected to boost disposable income, investment, and economic growth
Johannesburg, South Africa – The South African Reserve Bank (SARB) has announced a 25-basis-point cut in the benchmark interest rate, bringing it down to 7.75% effective 22 November 2024. This marks the second rate reduction in four years, driven by factors such as lower inflation, a stronger rand, and cheaper oil prices.
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