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Browsing: Impact of hike in repo rate in South Africa
- South African Reserve Bank (SARB) announced a 25 basis points hike, taking the repurchase rate (repo rate) to 7.25 per cent from 7 per cent.
- The prime lending rate will increase from 10.5 per cent to 10.75 per cent.
- Inflation in South Africa was reported to have eased to 7.1 per cent in December 2022.
The South African Reserve Bank (SARB) has announced a 25 basis points hike, taking the repurchase rate (repo rate) from 7 per cent to 7.25 per cent. The prime lending rate in the country is expected to increase from 10.5 per cent to 10.75 per cent as a result of the change, which will come into effect on January 31, 2023.
The repo rate, also known as the repurchase rate, is the rate at which the South African Reserve Bank lends money to commercial banks. The SARB, and essentially all central banks, use the repo …