South African Reserve Bank Cuts Repo Rate By 50 Basis Points
The South African Reserve Bank (SARB) has cut the Repurchase (repo) rate by 50 basis points.
Effective 22 May 2020, the repo rate will be 3.75% per annum.
SARB Governor Lesetja Kganyago made the announcement on Thursday following a Monetary Policy Committee (MPC) meeting.
The cut is the third since the advent of COVID-19...