Reserve Bank cuts interest rates by one percentage point
The Bank brought forward its May meeting to Tuesday, and cut interest rates for the third time in 2020
The Reserve Bank has cut interest rates by one percentage point for the second time in just less than a month, bringing the repo rate down to 4.25% on Tuesday morning.
The 100 basis point cut on Tuesday follows a 100 basis point cut on March 19. In January, the Bank cut interest rates by 25 basis points.
The rand weakened after the announcement, trading 0.2% lower at R18.12/$ in morning trade.
News Category
- International retailers
- On the move
- Awards and achievements
- Legislation
- Wine and liquor
- Africa
- Going green
- Supplier news
- Research tools
- Retailer trading results
- Supply chain
- Innovation and technology
- Economic factors
- Crime and security
- Store Openings
- Marketing and Promotions
- Social Responsibility
- Brand Press Office
Finance minister withdraws VAT hike proposal amid…
By: Nadia Khan - IOL
After a two-month-long battle, the Ministry of Finance announced that the proposed 0.5% Value-Added Tax (VAT) rate hike would be withdrawn.
Fuel price set to drop in May as VAT hike kicks in
By: Yogashen Pillay – IOL Business Report
Motorists in South Africa could expect to have some relief next month as a fuel price cut is on the cards on the back of easing global Brent crude oil price, benefitting consumers who will be facing th…
South African consumers adapt to rising living co…
By: Siphesihle Buthelezi – IOL
South African consumers are feeling the impact of the rising costs of living with a notable shift in their financial behaviour.
Loyalty programme usage soars as cost of living b…
By: Lynette Dicey - BDLive
More than 80% of South Africans are using loyalty programmes — up from 76% in 2023
Tips for navigating the pending VAT increase in y…
By: Denise Neethling - head of marketing at Paymenow
With the VAT increase looming on May 1, 2025, and the usual seasonal price hikes across various sectors like insurance and electricity, South Africans face a tightening financial landsc…