South African central bank cuts rates after first-quarter growth plunge


The South African Reserve Bank has cut its policy rate by 25 basis points to 6.5%, after GDP contracted by 3.2% in the first quarter.

The decision was the Sarb’s first rate cut since March 2018. Governor Lesetja Kganyago announced the decision at a press conference today (July 18), where he spoke frankly about South Africa’s economic problems.  

Kganyago said the Sarb “remains concerned about longer-term risks”, arguing that “investment prospects will continue to be limited in the absence of

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

If you already have an account, please sign in here.

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account