Loree Ranique

Interest Rate Cuts 2024 South Africa. South africa’s central bank lowered its benchmark interest rate by 25 basis points to 8%, marking the first rate cut in over four years. The south african reserve bank will probably cut interest rates by 25 basis points — bringing the benchmark repo rate to 8% — when it concludes its latest monetary policy meeting on thursday,.

Power cuts seen shaving 0.6 pct points off 2024 growth. South africans could breathe a small sigh of relief as interest rates could come down by the middle of 2024, according to mpho molopyane, the chief economist at alexforbes.