Government welcomes interest rate cut as relief for households
Government welcomes the decision by the South African Reserve Bank’s Monetary Policy Committee to cut the interest rate by 25 basis points, bringing the repo rate to 6.75% and the prime lending rate to 10.25%.
The rate cut is expected to ease pressure on consumers with loans, support small businesses, and encourage investment and economic activity. Government continues to prioritise measures that help reduce the cost of living, create jobs, and improve economic stability.