The South African Reserve Bank gives the economy a boost with a 25 bp cut in interest rates

SOUTH AFRICA - Report 16 Jan 2020 by Iraj Abedian

The South African Reserve Bank’s (SARB) Monetary Policy Committee (MPC) voted to cut the benchmark interest rate by 25 basis points from 6.5% to 6.25%, and therefore the prime lending rate from 10% to 9.75%, during its first sitting of the year. Prior to this, the last time the MPC had made an adjustment to the repo rate was in July of 2019, when it cut rates by 25 basis points.

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