SA Reserve Bank cuts repo rate
Some good for consumers as the South African Reserve Bank's Monetary Policy Committee cut the repo rate by 25 basis points.
This means that the rate at which the central bank lends money to commercial banks now stands at 6.25%.
The prime lending rate is now 9.75%.
"The MPC welcomes the lower inflation outcomes and continued moderation in inflation expectations,” said governor Lesetja Kganyago in Pretoria on Thursday.
"While the committee would like to see inflation expectations anchored closer to the midpoint of the inflation target range, on a sustained basis, the lower inflation forecast and improved risk profile opens some space to provide further policy accommodation to the economy.”