Key data points
Last release
—
Observation period
Sep 19, 2024
Next release
—
Forecast
—
Highest
23.99% on Jun 22, 1998
Lowest
3.50% on Oct 31, 2021
About South Africa interest rate
In South Africa, the interest rates decisions are taken by the South African Reserve Bank’s Monetary Policy Committee (MPC). The official interest rate is the repo rate. This is the rate at which central banks lend or discount eligible paper for deposit money banks, typically shown on an end-of-period basis.
Related indicators
Frequently Asked Questions
South Africa interest rate is 8% at the moment.
Last month South Africa interest rate was 8%, and the month before that it amounted to 8.25%.
Interest rate is the proportion of a loan that is charged as interest to the borrower, typically an annual percentage of the loan outstanding. When it comes to the national level, interest rate is a rate at which banks borrow money from a country's central bank.
Yes, negative interest rate can be used by the government as a monetary policy tool to stimulate economy growth.
Growing or falling interest rate can influence the country's economy, stimulate it or lower the inflation level. Even people can feel the effect of interest rate's movements — for example, if interest rate increases, loans get more expensive.