SARB reduces interest rates by 1.5%

The South African reserve bank cut interest rates Thursday for the first time in 21 months to 12 per cent. Governor Tito Mboweni said the central bank would remain alert to inflation risks though.

Source: Business Africa

The Reserve Bank said on Thursday it had decided to cut its main repo rate by 150 basis points to 12.00 percent - more than most had expected - given the factors which suggested inflation would keep falling.

Governor Tito Mboweni said in a televised address the central bank wou