SARB Cuts Interest Rate by 25 Basis Points

The South African Reserve Bank (SARB) has lowered its main lending rate by 25 basis points, bringing the repo rate down to 7.50% as of January 30, 2025. This marks the third consecutive rate cut by the central bank, aimed at supporting economic growth and financial stability.

The Monetary Policy Committee (MPC) voted in favor of the reduction, reflecting confidence in maintaining a balanced economic environment. South Africa's inflation averaged 4.4% in 2024, staying within the central bank's target range of 3% to 6%.

Looking ahead, SARB remains committed to monitoring economic conditions to ensure sustainable growth and stability in the financial sector.