https://www.polity.org.za
Deepening Democracy through Access to Information
Home / Market IQ RSS Feed RSS ← Back
Close

Email this article

separate emails by commas, maximum limit of 4 addresses

Verification Image. Please refresh the page if you cannot see this image.

Sponsored by

Close

Article Enquiry

Reserve Bank again cuts repo rate as SA's economic outlook worsens

Verification Image. Please refresh the page if you cannot see this image.
Close

Embed Video

Reserve Bank again cuts repo rate as SA's economic outlook worsens

Photo by Bloomberg

21st May 2020

By: News24Wire

SAVE THIS ARTICLE      EMAIL THIS ARTICLE

Font size: -+

The Reserve Bank's monetary policy committee has voted to reduce the repo rate for the fourth time this year, from 4.25% to 3.75%. 

As a result of the cut, the prime lending rate will fall to from 7.75% to 7.25%. 

Advertisement

The repo rate is the benchmark interest rate at which the Reserve Bank lends money to other banks.

Reserve Bank governor Lesetja Kganyago said at a briefing on Thursday afternoon that the central bank now expects SA's GDP to shrink by 7% this year. In April, the bank had predicted a 6.1% fall in GDP. 

Advertisement

The decrease in the repo rate was widely predicted by analysts as the Reserve Bank seeks to bolster SA's fragile economy by lowering interest rates and upping its bond purchases. 

EMAIL THIS ARTICLE      SAVE THIS ARTICLE

To subscribe email subscriptions@creamermedia.co.za or click here
To advertise email advertising@creamermedia.co.za or click here

Comment Guidelines

About

Polity.org.za is a product of Creamer Media.
www.creamermedia.co.za

Other Creamer Media Products include:
Engineering News
Mining Weekly
Research Channel Africa

Read more

Subscriptions

We offer a variety of subscriptions to our Magazine, Website, PDF Reports and our photo library.

Subscriptions are available via the Creamer Media Store.

View store

Advertise

Advertising on Polity.org.za is an effective way to build and consolidate a company's profile among clients and prospective clients. Email advertising@creamermedia.co.za

View options
Free daily email newsletter Register Now