REPO RATE REMAINS UNCHANGED
PUBLISHED 23 MAY 2019
As expected by financial analysts, the SA Reserve Bank's Monetary Policy Committee (MPC) kept the repo rate (or repurchase rate) unchanged at 6.75%.
The repo rate is the interest rate at which the Reserve Bank lends money to commercial banks. Changes in the repo rate affect the prime lending rate, which is the benchmark rate at which banks lend to clients. With the repo rate unchanged, the prime lending rate will remain at 10.25%.
This is good news for property owners, as the interest charged on home loans also remain unchanged.