Jan 28 2025 2 mins
Although NOT CONFIRMED YET - But there could be, an Interest Rate CUT tomorrow, from the South African Reserve Bank.
This would be the THIRD CUT - since the SARB started CUTTING Rates, in September last year. The EXPECTATION - is for the CUT - to be ANOTHER QUARTER OF A PERCENT.
At the PEAK, the Repo Rate was 8.25%. AND If we get a CUT tomorrow, it will be at 7.5%. Remember that the Repo Rate - is the interest rate that the Reserve Bank charges; when it loans the Normal Banks.
AND if there’s a reduction - the Prime Rate - will be at 11%. And that is - the DEFAULT Interest Rate - that Banks Charge to us.
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