20°C / 22°C
  • Sat
  • 25°C
  • 17°C
  • Sun
  • 20°C
  • 11°C
  • Mon
  • 22°C
  • 10°C
  • Tue
  • 24°C
  • 11°C
  • Wed
  • 26°C
  • 11°C
  • Thu
  • 27°C
  • 14°C
  • Sat
  • 22°C
  • 16°C
  • Sun
  • 25°C
  • 16°C
  • Mon
  • 28°C
  • 14°C
  • Tue
  • 33°C
  • 15°C
  • Wed
  • 25°C
  • 17°C
  • Thu
  • 23°C
  • 17°C
  • Sat
  • 25°C
  • 19°C
  • Sun
  • 23°C
  • 14°C
  • Mon
  • 24°C
  • 12°C
  • Tue
  • 25°C
  • 12°C
  • Wed
  • 28°C
  • 12°C
  • Thu
  • 30°C
  • 14°C
  • Sat
  • 25°C
  • 17°C
  • Sun
  • 20°C
  • 13°C
  • Mon
  • 25°C
  • 11°C
  • Tue
  • 26°C
  • 12°C
  • Wed
  • 27°C
  • 13°C
  • Thu
  • 28°C
  • 14°C
  • Sat
  • 30°C
  • 21°C
  • Sun
  • 24°C
  • 17°C
  • Mon
  • 23°C
  • 17°C
  • Tue
  • 25°C
  • 18°C
  • Wed
  • 28°C
  • 19°C
  • Thu
  • 26°C
  • 21°C
  • Sat
  • 24°C
  • 17°C
  • Sun
  • 20°C
  • 15°C
  • Mon
  • 21°C
  • 13°C
  • Tue
  • 24°C
  • 14°C
  • Wed
  • 25°C
  • 18°C
  • Thu
  • 21°C
  • 18°C
  • Sat
  • 23°C
  • 15°C
  • Sun
  • 31°C
  • 15°C
  • Mon
  • 36°C
  • 14°C
  • Tue
  • 39°C
  • 19°C
  • Wed
  • 30°C
  • 17°C
  • Thu
  • 30°C
  • 18°C
  • Sat
  • 20°C
  • 16°C
  • Sun
  • 25°C
  • 15°C
  • Mon
  • 28°C
  • 14°C
  • Tue
  • 29°C
  • 18°C
  • Wed
  • 23°C
  • 16°C
  • Thu
  • 23°C
  • 17°C
  • Sat
  • 28°C
  • 20°C
  • Sun
  • 25°C
  • 16°C
  • Mon
  • 24°C
  • 15°C
  • Tue
  • 24°C
  • 14°C
  • Wed
  • 27°C
  • 13°C
  • Thu
  • 29°C
  • 15°C
  • Sat
  • 27°C
  • 16°C
  • Sun
  • 27°C
  • 14°C
  • Mon
  • 26°C
  • 11°C
  • Tue
  • 27°C
  • 12°C
  • Wed
  • 28°C
  • 14°C
  • Thu
  • 29°C
  • 15°C
  • Sat
  • 28°C
  • 19°C
  • Sun
  • 21°C
  • 14°C
  • Mon
  • 23°C
  • 14°C
  • Tue
  • 23°C
  • 14°C
  • Wed
  • 26°C
  • 12°C
  • Thu
  • 27°C
  • 15°C
  • Sat
  • 24°C
  • 15°C
  • Sun
  • 20°C
  • 13°C
  • Mon
  • 21°C
  • 11°C
  • Tue
  • 28°C
  • 14°C
  • Wed
  • 24°C
  • 17°C
  • Thu
  • 19°C
  • 16°C

Kganyago announces repo rate cut to 6.25%

The decision follows this week's Monetary Policy Committee meeting.

South African Reserve Bank Governor Lesetja Kganyago. Picture: AFP

JOHANNESBURG - South African Reserve Bank (Sarb) Governor Lesetja Kganyago on Thursday announced that the repo rate will be reduced to 6.25%.

The repo rate is the rate at which the central bank lends money to commercial banks.

The decision follows this week's Monetary Policy Committee meeting.

In July last year, the bank reduced the repo rate by 25 basis points to 6.5% and it was kept unchanged in September and November.

The prime lending rate, the figure charged by banks to customers, has been cut to 9.75%.

Comments

EWN welcomes all comments that are constructive, contribute to discussions in a meaningful manner and take stories forward.

However, we will NOT condone the following:

- Racism (including offensive comments based on ethnicity and nationality)
- Sexism
- Homophobia
- Religious intolerance
- Cyber bullying
- Hate speech
- Derogatory language
- Comments inciting violence.

We ask that your comments remain relevant to the articles they appear on and do not include general banter or conversation as this dilutes the effectiveness of the comments section.

We strive to make the EWN community a safe and welcoming space for all.

EWN reserves the right to: 1) remove any comments that do not follow the above guidelines; and, 2) ban users who repeatedly infringe the rules.

Should you find any comments upsetting or offensive you can also flag them and we will assess it against our guidelines.

EWN is constantly reviewing its comments policy in order to create an environment conducive to constructive conversations.

comments powered by Disqus