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Repo Rate Reduction

  • South Africa
  • Other

22-05-2020

The South African Reserve Bank has announced that the repo rate will reduce by a further 50 basis points or 0.5 %. The previous reduction was pointed out in our ebrief of 15 April 2020.

The result of the lowered repo rate is a decrease from 4.25% to 3.75% and the prime lending rate from 7.75% to 7.25%.

Currently the rand is valued at an estimate of R17.67 per US Dollar.

Please feel free to contact us for any questions or assistance in your next property transaction, our conveyancing team will gladly assist.

Lerosha Naidoo, Senior Associate

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