South African Reserve Bank cuts repo rate by another 100 basis points

PUBLISHED: Tue, 14 Apr 2020 12:01:54 GMT
Share

The Monetary Policy Committee (MPC) of the South African Reserve Bank (SARB) has cut the country’s interest rate by another 100 basis points, taking the repo rate to 4.25% per annum.

The following is a statement on behalf of the MPC of SARB:

The Monetary Policy Committee (MPC) of the South African Reserve Bank decided to cut the repo rate by 100 basis points. This takes the repo rate to 4.25% per annum.

The May 2020 meeting of the MPC was been moved earlier and took place today.

Sign Up for Our Newsletter Daily Update

Get the best of CNBC Africa sent straight to your inbox with breaking business news, insights and updates from experts across the continent.
Get this delivered to your inbox, and more info about about our products and services. By signing up for newsletters, you are agreeing to our Terms of Use and Privacy Policy.

The MPC will host a media briefing today Tuesday 14 April 2020 at 11.30.

The conference will be hosted virtually on Zoom (details will be shared upon confirmation) and streamed live on the South African Reserve Bank’s (SARB) Facebook and YouTube accounts. Questions will be submitted during the conference and will be responded to thereafter.