Cape Town - The monetary policy committee of the SA Reserve Bank has decided to cut interest rates by 25 basis points, or 0.25%.
This means the repo rate is now 6.5% and the prime lending rate 10%.
The last time the central bank cut the repo rate was in July 2017, when the MPC reduced the rate by 25 basis points from 7% to 6.75%.
Read the full statement below:
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