May 2023 Interest Rate Increase

SARB's Monetary Policy Committee has, as expected, increased the repo rate by 50 basis points from 7.75% to 8.25% effective 26 May 2023.

Similarly, the prime lending rate has increased by this margin from 11.25% to 11.75%. This is the highest the prime lending rate has been since May 2009.

26 May 2023
Author STBB

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