The South African Reserve Bank (SARB) has voted to cut interest rates by 25 basis points in a decision that brought welcome relief to those South Africans in debt.
The repo rate now stands at 6.75% while the prime lending rate is 10.25%.
Governor Lesetja Kganyago announced the decision at a press briefing on Thursday.
The SARB’s Monetary Policy Committee’s (MPC) six members were unanimous in making the decision.
The November meeting marks the final rates decision for the year, with the MPC next set to meet in late January 2026.
Who are the SARB’s MPC?
The South African Reserve Bank’s monetary policy committee meets every second month to announce changes – if any – to the country’s repo and prime lending rates.
The meetings in 2025 are scheduled to take place in January, March, May, July, September and November – and always on a Thursday at 15:00.
Currently, the committee comprises of six people, with Lesetja Kganyago holding the position of governor of the SARB – and the deciding vote if necessary.
Monthly bond repayment table
The table below shows the new monthly bond repayments on various bond values over a 20-year period assuming no deposit and repayments at prime following Thursday’s decision, as well as the now ‘old’ repayments, as well as the monthly saving.
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