Prime Interest Rate Today 2024 South Africa. The central bank began its current tightening cycle on 18 november 2021, raising the south africa interest rates to 3.75%. Since the current interest rate hiking cycle started in november 2021, the mpc has hiked the repo rate ten times by a cumulative 475 basis points.
The weighted average exchange rate of the rand is based on trade between south africa and its twenty most important trading partners. Many families are already struggling to make ends meet, and additional expenses on energy make it even harder to budget effectively.
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