Interest Rate Cuts 2024 South Africa

Interest Rate Cuts 2024 South Africa. Els predicts rate cuts beginning in march, with a total reduction of 100 to 125 basis points possible throughout 2024. South africa’s inflation rate in 2023 averaged 5.9%, down from 6.9% in 2022 but up from 4.5% in 2021, 3.3% in 2020, and 4.1% in 2019.

The decision to maintain the repo rate at 8.25% (zarepo=eci) was unanimous and in line with forecasts of analysts polled by reuters. Previously, standard bank expected the reserve bank to cut interest rates by 75 basis points in the second half of 2024 and 25 basis points in the first half of 2025.