Economy

World Trade: despite a sudden interruption, global value chains still have a bright future

MPC Commentary

The Monetary Policy Committee (MPC) once again unanimously voted in favour of lowering the repo rate this month, although 2 out of the 5 members preferred a shallower cut.

Rate cut to lower debt servicing costs for credit active customers

Following the South African Reserve Bank’s (SARB) decision earlier today to cut its lending rate by a further 50 basis points, FNB confirms that it will reduce its prime lending rate to 7.25% from 7.75% with effect from 22nd May 2020.

Interest rates drop to a record low as lockdown continues

Following a record-breaking streak of interest rates cuts in January, March and April, the Monetary Policy Committee (MPC) again announced some further relief for South Africans today by lowering the interest rate by 50 basis points. The repo rate therefore drops to 3.75%, leaving the prime lending rate at 7.25%