The Monetary Policy Commiteee has cut the repo rate by 25 basis points. This takes the repo rate to 3.50% per annum, with effect from 24 July 2020. Prime interest rate is now 7%
To view the full MPC statement delivered yesterday click here: MPC statement July 2020
For more information contact Tracey Watson-Gill at Goldberg & de Villiers Inc. on 041 5019800.