Repo Rate Cut
Repo Rate Cut BY 100 Base Points
In line with most countries around the world, the SA Reserve Bank (SARB) MPC decided to cut the Repo Rate by 100 base points.
Normally cuts and increases have been seen in 25 base point incriments. So, this is a large cut that will hopefully ease some pressure on consumers in the very tough months to come as the world gets set for a massive Recession thanks to the spread of CoVid-19
The cut is seen as merely the first step in trying to help the economy survive and other sweeping measures may be needed to assist consumers.
The Repo Rate now sits at 5.25%