Cape Town Commercial Consultants

After a two-day meeting, the South African Reserve Bank’s Monetary Policy Committee (MPC) left the key monetary policy interest rate – the repo rate – unchanged at 6,5%. As a result, banks’ lending rates to the public, i.e. prime and mortgage rates, are to remain at a level of 10%. Interest rates have been cut by a cumulative 550 basis points since December 2008. See the full report