At its 26 May meeting, the South African Reserve Bank's (SARB) Monetary Policy Committee decided to increase the bank's repurchase rate (repo rate) by a further 0,5 percentage points to 8,25%.
The current cycle of interest rate increases started in November 2021, when the prime interest rate was increased from 7% to 7,25%. Since then, it has been increased eight times to the current 11,25%, the highest level since April 2009.
