SA Reserve Bank hikes rates by another 50 basis points

May 25, 2023

The South African Reserve Bank’s (SARB) Monetary Policy Committee (MPC) has hiked South Africa’s interest rates by another 50 basis points.

The decision was unanimous.

This takes the repo rate up to 8.25%, with the prime lending rate now at 11.75%. It marks the tenth consecutive interest rate hike since the central bank started the hike cycle in November 2021.

It has hiked rates by a total of 475 basis points since then.

The move was broadly in line with market expectations, with most analysts and economists anticipating the move at 50 basis points 

The Bank of Namibia will make its announcement on the 14th of June.

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Last modified on Friday, 26 May 2023 17:55

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