Home News Finance South Africa’s Central Bank Cuts Interest Rates as Inflation Reduces Beyond Expectations
FinanceNews

South Africa’s Central Bank Cuts Interest Rates as Inflation Reduces Beyond Expectations

146

South Africa’s central bank has reduced its benchmark interest rate by 25 basis points to 8 per cent, marking the first rate cut since 2020. The central bank Governor, Lesetja Kganyago announced the decision during a press briefing on Thursday.

This move comes as inflation in the country has fallen below the central bank’s target range of 4.5 per cent, giving policymakers room to lower rates after maintaining high levels for 15 years. The cut follows a growing trend toward global financial easing, which was sparked by the United States Federal Reserve’s recent rate reduction. Kganyago noted that  South Africa’s recent rate cut aligns with predictions by most economists.

With inflation stabilising and the rand holding firm, South Africa may see more favourable financial conditions, according to analysts.

Read: Edo Guber Election Will Be Free and Fair – Edo Rec Says Despite Ties to FCT Minister Wike

About The Author

Related Articles

Niger Gold Dan Issa
NewsSecurity

EU Recalls Ambassador Over Allegations of Interference in Niger

The European Union (EU) has announced the recall of its ambassador to...

Human RightsNews

Sokoto-Based Woman Secretly Detained, Arraigned for Criticising Governor Over Insecurity, Apologies to Governor Ahmed

Hamdiyya Sidi, a Sokoto-based critic who was recently prosecuted by Governor Ahmed...

News

How Ghana’s security officials turned Nigerian commercial buses into traveling ATMs

For many travelers along the Accra-Aflao route, a critical artery between Ghana...

NIMC Nigerians
News

NIMC Instructs Nigerians to Pay for New National ID Cards As FG Lacks Funding

The National Identity Management Commission (NIMC) has announced that Nigerians will have...