How Many Times Has The Repo Rate Increased In South Africa

How Many Times Has The Repo Rate Increased In South Africa?

South Africa Keeps Rates SteadyThe South African Reserve Bank left its key repo rate unchanged at a 14-year high of 8.25% during its July 2023 meeting, matching expectations, and marking a pause in its tightening cycle after 10 consecutive rate hikes.

Has the repo rate increased in South Africa?

The South African Reserve Bank (Sarb) has cited improved economic conditions as the reason for not increasing interest rates.

How often does the repo rate change in South Africa?

six times a year

The Monetary Policy Committee (MPC) meets six times a year to set the repo rate.

When last did the repo rate increase in South Africa?

At its 23–25 May meeting, the Monetary Policy Committee of the South African Reserve Bank (SARB) increased the repurchase rate by 50 basis points, bringing it to 8.25%.

What is the current repo rate in South Africa?

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IndicatorValue
Money Market Rates(5)
Repo rate8.25
Sabor(4)8.209
Zaronia8.110

What is the current repo rate in South Africa in 2023?

8.25% per year

Against this backdrop, the MPC decided to keep the repurchase rate at its current level of 8.25% per year. Three members of the Committee preferred to keep rates on hold and two preferred an increase of 25 basis points.