what is the interest rate in south africa

As of November 7, 2023, the real interest rate in South Africa was not available. However, the South African Reserve Bank (SARB) kept its main interest rate unchanged at 8.25% in its September 2023 meeting. This was the first time since November 2021 that the SARB halted interest rate hikes, but Governor Lesetja Kganyago emphasized that the pause did not mean an end to the hiking cycle. The SARBs monetary policy committee (MPC) kept rates at 8.25% as inflation forecasts came in lower than previous ones and economic conditions improved. Kganyago said future rate decisions would continue to depend on economic data and risks to the inflation outlook.