SARB Hikes Repo Rate By 50 Basis Points

Written by on 25 May, 2023

By: Pamella Majola

The South African Reserve Bank (SARB) has hiked the repo rate by 50 basis points to 8.25 percent. In March, the repo rate stood at 7.75 percent.

Briefing the media on the monetary policy committee’s decision, the bank’s governor, Lesetja Kganyago, says the committee made a unanimous decision.

He also mentions at the current level, the committee has decided to make the policy restrictive.

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