Rate Cuts 2024 South Africa. South africa's reserve bank will leave its repo rate on hold this week but cut rates by 25 basis points to 8.00% in september as inflation cools, a reuters poll found. South africa's central bank lowered its benchmark interest rate by 25 basis points to 8%, marking the first rate cut in over four years.
Increased to 5.50% and september 2022 to 6.25%, maintaining a stable market where buyer demand and affordability were still relatively aligned. The south african reserve bank (sarb) is widely expected to cut interest rates in south africa this month, which could be good news for the rand.