PRETORIA - Reserve Bank Governor Lesetja Kganyago has announced a 25 basis point rate cut.
The repo rate now falls from 8% to 7.75%.
This means the prime lending rate will drop from 11.5% to 11.25%.
Kganyago said the decision to only cut the interest rate by a modest quarter percentage point was unanimous.
Economists give an analysis of the announcement by Kganyago that there will be another 25 basis points cut giving more relief to cash-strapped South Africans.
eNCA Business anchor Melissa Tighy, Investec chief economist Anabel Bishop and Stanlib chief economist Kevin Lings discussed this further.