Kouga Chronicle edited: The SA Government this morning, 21 November, says it welcomes the decision by the South African Reserve Bank’s Monetary Policy Committee to cut the interest rate by 25 basis points, bringing the repo rate to 6.75% and the prime lending rate to 10.25%.
The SA government’s statement read:
“The rate cut is expected to ease pressure on consumers with loans, support small businesses, and encourage investment and economic activity. Government continues to prioritise measures that help reduce the cost of living, create jobs, and improve economic stability.
“The decision aligns with the Government’s ongoing efforts to strengthen growth, support vulnerable communities, and build an economy that works for all. Government will continue to work with social partners to improve the economic environment and ensure that the benefits of growth reach the poor and those most affected by rising prices.”
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