The South African Reserve Bank has cut the repo rate by 100 basis points which leaves the repo rate at 4.25 per cent per annum. The May 2020 meeting of the MPC was moved earlier and took place today. The announcement comes a few weeks after the MPC cut the repo rate by 100 basis points in March as well. This is what the SARB governor Lesetja Kganyago had to say.
SARB cuts rates by 100 basis points to record low
PUBLISHED: Tue, 14 Apr 2020 15:20:01 GMT