Repo Rate

Interest Rate Cut – What does it mean?

WHAT THE INTEREST RATE CUT MEANS FOR THE SA PROPERTY MARKET The MPC announced on Thursday a lowering of the repo rate by 25 basis points. The repo rate drops to 6.25% and the prime lending rate changes to 9.75%. The repo rate is the benchmark interest rate at which the Reserve Bank lends money to other banks. Before Thursday, the last time the bank changed the rate was in July 2019, when it was cut...

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