{"id":93294,"date":"2025-11-21T16:32:23","date_gmt":"2025-11-21T16:32:23","guid":{"rendered":"https:\/\/www.africa-press.net\/south-africa\/all-news\/reserve-bank-cuts-interest-rates-in-south-africa"},"modified":"2025-11-21T17:19:18","modified_gmt":"2025-11-21T17:19:18","slug":"reserve-bank-cuts-interest-rates-in-south-africa","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/south-africa\/all-news\/reserve-bank-cuts-interest-rates-in-south-africa","title":{"rendered":"Reserve Bank cuts interest rates in South Africa"},"content":{"rendered":"

Africa-Press – South-Africa. <\/strong><\/span>The South African Reserve Bank (SARB) Monetary Policy Committee has voted to cut South Africa\u2019s interest rates by 25 basis points.<\/p>\n

This takes the repo rate to 6.75% and the prime lending rate to 10.25%. The decision was unanimous.<\/p>\n

Reserve Bank governor Lesetja Kganyago said that while inflation has ticked higher, it is due to non-core items and temporary shocks, like in the red meat market.<\/p>\n

\u201cWe continue to see this pressure as temporary, with inflation heading lower again from the beginning of next year. Indeed, recent outcomes have undershot our forecasts slightly,\u201d he said.<\/p>\n

Stats SA published inflation data for October this week, recording CPI at 3.6%. This was higher than the 3.4% recorded in September, but lower than market expectations of 3.7%.<\/p>\n

Inflation has come in lower than market expectations for the past three months, with August even surprising by cooling rather than heating up as expected.<\/p>\n

\u201cBecause of these downside surprises, together with a stronger rand, and a lower oil price assumption, we have small downward revisions to our inflation outlook, for both 2025 and 2026,\u201d Kganyago said.<\/p>\n

\u201cWe remain on track to deliver 3% inflation over the medium term.\u201d<\/p>\n

For inflation expectations, the governor said that market rates and surveys of analysts both show further progress towards the formally-adopted 3% objective.<\/p>\n

Core goods prices are benefiting from exchange rate strength, and food price inflation seems to have peaked, Kganyago said.<\/p>\n

\u201cServices inflation is unchanged from the last meeting. Announced medical aid increases are lower than last year\u2019s; at the same time, housing inflation has accelerated, which warrants ongoing scrutiny,\u201d he said.<\/p>\n

Against this backdrop, the MPC decided to reduce the policy rate by 25 basis points, to 6.75%, with effect from 20 November.<\/p>\n

\u201cMembers agreed there was scope now to make the policy stance less restrictive, in the context of an improved inflation outlook,\u201d Kganyago said.<\/p>\n

Looking ahead, the central bank noted that its Quarterly Projection Model continues to forecast gradual rate cuts as inflation subsides.<\/p>\n

However, as is always the case, this rate path remains a broad policy guide.<\/p>\n

\u201cOur decisions will continue to be taken on a meeting-by-meeting basis, with careful attention to the outlook, data outcomes, and the balance of risks to the forecast,\u201d Kganyago said.<\/p>\n

The decision to cut rates was generally in line with market expectations, where economists and analysts were split between calling a cut or a hold.<\/p>\n

A cut was seen by stakeholders who viewed the balance of economic indicators as being more favourable, with little inflation pressure and restrictive rates putting a damper on economic growth.<\/p>\n

Those who anticipated a hold viewed the SARB MPC as being more hawkish and cautious to undermine the newly-adopted 3% inflation target.<\/p>\n

Ultimately, the doves won the debate.<\/p>\n

The November meeting marks the final rates decision for the year, with the MPC expected to meet again in January 2026.<\/p>\n

For More News And Analysis About South-Africa<\/span> Follow Africa-Press<\/span><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – South-Africa. The South African Reserve Bank (SARB) Monetary Policy Committee has voted to cut South Africa\u2019s interest rates by 25 basis points. This takes the repo rate to 6.75% and the prime lending rate to 10.25%. The decision was unanimous. Reserve Bank governor Lesetja Kganyago said that while inflation has ticked higher, it […]<\/p>\n","protected":false},"author":84,"featured_media":93293,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[275],"class_list":["post-93294","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-south-africa-2"],"yoast_head":"\nReserve Bank cuts interest rates in South Africa - South Africa<\/title>\n<meta name=\"description\" content=\"The South African Reserve Bank (SARB) Monetary Policy Committee has voted to cut South Africa\u2019s interest rates by 25 bas ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/south-africa\/all-news\/reserve-bank-cuts-interest-rates-in-south-africa\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Reserve Bank cuts interest rates in South Africa\" \/>\n<meta property=\"og:description\" content=\"The South African Reserve Bank (SARB) Monetary Policy Committee has voted to cut South Africa\u2019s interest rates by 25 bas ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/south-africa\/all-news\/reserve-bank-cuts-interest-rates-in-south-africa\" \/>\n<meta property=\"og:site_name\" content=\"South Africa\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2025-11-21T16:32:23+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-11-21T17:19:18+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2025\/11\/sm_1763732929.234807.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"863\" \/>\n\t<meta property=\"og:image:height\" content=\"429\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/reserve-bank-cuts-interest-rates-in-south-africa#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/reserve-bank-cuts-interest-rates-in-south-africa\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Reserve Bank cuts interest rates in South Africa\",\"datePublished\":\"2025-11-21T16:32:23+00:00\",\"dateModified\":\"2025-11-21T17:19:18+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/reserve-bank-cuts-interest-rates-in-south-africa\"},\"wordCount\":484,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/reserve-bank-cuts-interest-rates-in-south-africa#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2025\/11\/sm_1763732929.234807.jpg\",\"keywords\":[\"South-Africa\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/south-africa\/all-news\/reserve-bank-cuts-interest-rates-in-south-africa#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/reserve-bank-cuts-interest-rates-in-south-africa\",\"url\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/reserve-bank-cuts-interest-rates-in-south-africa\",\"name\":\"Reserve Bank cuts interest rates in South Africa - 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