The Monetary Policy Committee (MPC) of the @SAReserveBank has decided to cut the repo rate by 100 basis points. This takes the repo rate to 4.25% per annum.
— SA Reserve Bank (@SAReserveBank) April 14, 2020
The repo rate is the benchmark interest rate at which the Reserve Bank lends money to other banks.
Reserve Bank governor, Lesetja Kganyago, said the decision by the bank’s Monetary Policy Committee was unanimous. The cut will go into effect on April 15.
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