SARB MPC cuts repo rate by 50 points to 8%

The South African Reserve Bank has cut interest rates to 8 per cent. This brought the total amount of rate cuts to 550 basis points since the first cut this year was announced on June 12.

Source: Business Day

The South African Reserve Bank's (SARB) Monetary Policy Committee (MPC) decided today to cut the repo rate by 50 basis points to 8.0%, SARB governor Tito Mboweni announced at the end of the two-day meeting.

This brought the total amount of rate cuts to 550 basis points since the first cu