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Rate reprieve will lift holiday spirits after a tough year

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While many factors indicated the possibility of a rate hike, the South African Reserve Bank (SARB)’s decision to hold their key lending rate provides some relief after a challenging year.

Unchanged interest rates a catalyst for sustainable economic activity

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Against the backdrop of easing lockdown restrictions and a reassuring National Budget, the South African Reserve Bank’s (SARB) decision to keep the repo rate unchanged provides further impetus for more sustainable economic activity.

End of cheques a giant leap into digital payments future

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Individual consumers and businesses will no longer be able to cash cheques in South Africa. This follows a joint announcement by the SARB, FSCA, PASA and BASA which confirmed that the issuing and acceptance or collection of cheques will cease from 31 December 2020. 

Interest rates stability provides consumers and SMEs a window of opportunity

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The South African Reserve Bank has decided to keep interest rates unchanged. Interest rates stability coupled with a recovery in the economy during the second quarter provides consumers and SMEs a window of opportunity to review finances. More importantly, Moody’s wait-and-see approach with respect to our country’s rating is another incentive for South Africa to stimulate economic recovery.

Consumers to stretch their Rands as economy slows

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The Reserve Bank’s decision to hold rates, even with the recent instability in stock and currency markets, will help consumers to plan ahead when managing their finances.

Interest rates on hold as SA awaits Moody’s rating assessment

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Following the South African Reserve Bank’s decision earlier today to keep interest rates unchanged, FNB confirms that it will maintain its prime lending rate at 10.25% and will review its position following the next SARB MPC meeting in May 2019.

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