This decrease after more than a year of a constant repo rate of 8.25% was hopefully the first in a series of cuts.
This repo rate cut will put a little more money in consumes' pockets and give South Africans a chance to increase their savings and strengthen their personal finances, says Subash Chatrooghoon, an accredited financial advisor at Liberty.
Economists also indicate that a further cut in the prime lending rate could occur before the end of the year, further boosting consumers' disposable income or ability to save.
"The prime lending rate was reduced to 7% during the Covid pandemic to assist South Africans facing financial hardship.
In November 2021, the Reserve Bank started to increase the repo rate, with the prime lending rate peaking at 11.75% in May 2023 and remaining there since.
ãã®èšäºã¯ The Citizen ã® September 23, 2024 çã«æ²èŒãããŠããŸãã
7 æ¥éã® Magzter GOLD ç¡æãã©ã€ã¢ã«ãéå§ããŠãäœåãã®å³éžããããã¬ãã¢ã ã¹ããŒãªãŒã9,000 以äžã®éèªãæ°èã«ã¢ã¯ã»ã¹ããŠãã ããã
ãã§ã«è³Œèªè ã§ã ?  ãµã€ã³ã€ã³
ãã®èšäºã¯ The Citizen ã® September 23, 2024 çã«æ²èŒãããŠããŸãã
7 æ¥éã® Magzter GOLD ç¡æãã©ã€ã¢ã«ãéå§ããŠãäœåãã®å³éžããããã¬ãã¢ã ã¹ããŒãªãŒã9,000 以äžã®éèªãæ°èã«ã¢ã¯ã»ã¹ããŠãã ããã
ãã§ã«è³Œèªè ã§ã? ãµã€ã³ã€ã³
Ghaaleb to extend Costa's lead
Jebel Ali-based Australian trainer Michael Costa has begun the new season in the UAE in terrific style and has already saddled eight winners.
Suny Du Loup for Abu Dhabi Prep
Racing in the UAE steps up a gear at Abu Dhabi today with the running of the HH The President Cup Prep, the first Listed race for Arabians of the new season.
Andi's Girl to take the Pudding
Sukhumvit stands out as the obvious danger.
There is nothing haphazard about Richard
Once again Richard Fourie looks the person to follow at Fairview today when they race on the Polytrack.
Emerald fetches a record R163m
Auction price exceeds that of Liz Taylorâs wedding gift from Richard Burton.
Irma Stern tops auction sales
Elite group of South African artists attract enthusiastic bids here and internationally.
Thirst-quenching sale
Inaugural auction features curated selection of the rarest Cape fine brandies.
POWER PACKED BOKS
ERASMUS: HAULS OUT THE BIG GUNS FOR MASSIVE ENGLAND SHOWDOWN
Tyson v Paul: fight or farce?
The sport of boxing has over the years never been short of its array of colourful, controversial characters and news-makers for both the right and wrong reasons.
Qualifying pressure lifts on Bafana
Bafana Bafana qualified for the 2025 Africa Cup of Nations finals yesterday without kicking a ball.