South African Reserve Bank Cuts Interest Rates


In a surprise move, the Reserve Bank's monetary policy committee has decided to drop the interest rate at which banks lend and borrow among each other, by 50 basis points to five percent.
  • South Africa:  Interest Rate Cut

    South African Press Association, 20 July 2012

    The SA Reserve Bank (SARB) has cut the repo rate by 50 basis points to five percent, governor Gill Marcus said on Thursday. read more »

Photo: Flickr

South African twenty rand note.

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