Government welcomes the decision by the South African Reserve Bank to reduce the repo rate by 25 basis points to 7%. The move provides much-needed relief for South African households, many of whom continue to face financial pressure due to the rising cost of living.
The rate cut is expected to ease the burden on consumers by lowering the cost of borrowing, while also creating conditions more conducive to stimulating investment, supporting businesses, and driving economic activity.
The decision reaffirms the soundness of South Africa’s monetary policy framework and the importance of coordinated efforts to support inclusive growth. Government continues to implement structural reforms and improve the ease of doing business to unlock the full potential of the economy and create jobs.
Enquiries:
Ms Nomonde Mnukwa
Acting Government Spokesperson
Cell: 083 210 6776
#GovZAUpdates
