SARB cuts repo rate by 1.5%

With effect from Friday the South African Reserve Bank will cut its main repo rate to 8.5 percent, Tito Mboweni said at the end of the two-day meeting by the SARB's Monetary Policy Committee on Thursday.

Source: Business Africa

Reserve Bank (SARB) governor Tito Mboweni said on Thursday that the central bank would cut the repo rate by 150 basis points to 8.50 percent, effective October 17.

Mboweni made the announcement at the end of the two-day meeting by the SARB's Monetary Policy Committee (MP