Tiffy Allyson

Rate Cuts 2024 South Africa. The reserve bank’s monetary policy review suggests inflation may not drop below 5% in 2024, impacting potential interest rate cuts and economic stability. The south african reserve bank's monetary policy committee voted unanimously to cut its main interest rate by 25 basis points to 8 per cent, the first cut in four years.

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 monetary policy committee reduced its benchmark rate by 25 basis points to 8%, governor lesetja kganyago told reporters at a briefing north of johannesburg on thursday.