{"id":34661,"date":"2024-03-27T15:28:46","date_gmt":"2024-03-27T13:28:46","guid":{"rendered":"https:\/\/stbb.co.za\/dev2\/?p=34661"},"modified":"2024-03-27T15:28:46","modified_gmt":"2024-03-27T13:28:46","slug":"stbb-newsflash-latest-news-on-the-interest-rate","status":"publish","type":"post","link":"https:\/\/stbb.co.za\/dev2\/stbb-newsflash-latest-news-on-the-interest-rate\/","title":{"rendered":"STBB Newsflash | Latest News on the Interest Rate"},"content":{"rendered":"<p>This afternoon, the Monetary Policy Committee of the South African Reserve Bank (\u2018SARB\u2019) convened its second meeting of the year. In line with economists\u2019 predictions, SARB has again elected to keep the repurchase rate (repo rate) at 8.25% to regulate inflation and facilitate financial stability and economic growth. Accordingly, the prime lending rate of commercial banks remains unchanged at 11.75%.<\/p>\n<p>It marks the fifth consecutive meeting in which SARB has declined to adjust the repo rate, which has increased by a cumulative 475 basis points since November 2021. The announcement comes against an uptick in consumer inflation from 5.3% in January to 5.6% in February \u2013 an increase largely attributed to February\u2019s fuel price hike and the sharp rise in medical aid rates. As inflation edges closer to SARB\u2019s upper target, some economists estimate that SARB is unlikely to begin cutting interest rates before July 2024. Given SARB\u2019s prudent approach thus far, other analysts forecast cuts in the third quarter only.<\/p>\n<p>Do not hesitate to contact us at <a href=\"mailto:info@stbb.co.za?Subject=STBBNewsflash%20Latest%20News%20on%20the%Interest%20Rate\">info@stbb.co.za<\/a> should you have any questions or require legal assistance.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>This afternoon, the Monetary Policy Committee of the South African Reserve Bank (\u2018SARB\u2019) convened its second meeting of the year. In line with economists\u2019 predictions, SARB has again elected to keep the repurchase rate (repo rate) at 8.25% to regulate<\/p>\n","protected":false},"author":364,"featured_media":24464,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_exactmetrics_skip_tracking":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[137,108],"tags":[],"class_list":["post-34661","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest","category-newsflash"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>STBB Newsflash | Latest News on the Interest Rate - STBB<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/stbb.co.za\/dev2\/stbb-newsflash-latest-news-on-the-interest-rate\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Samantha Smith\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/stbb.co.za\\\/dev2\\\/stbb-newsflash-latest-news-on-the-interest-rate\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/stbb.co.za\\\/dev2\\\/stbb-newsflash-latest-news-on-the-interest-rate\\\/\"},\"author\":{\"name\":\"Samantha Smith\",\"@id\":\"https:\\\/\\\/stbb.co.za\\\/dev2\\\/#\\\/schema\\\/person\\\/805b4884d2d0620da8c730a20588b52a\"},\"headline\":\"STBB Newsflash | Latest News on the Interest Rate\",\"datePublished\":\"2024-03-27T13:28:46+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/stbb.co.za\\\/dev2\\\/stbb-newsflash-latest-news-on-the-interest-rate\\\/\"},\"wordCount\":184,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/stbb.co.za\\\/dev2\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/stbb.co.za\\\/dev2\\\/stbb-newsflash-latest-news-on-the-interest-rate\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/stbb.co.za\\\/dev2\\\/wp-content\\\/uploads\\\/2021\\\/05\\\/nicola-fioravanti-641943-unsplash-1.jpg\",\"articleSection\":[\"Latest\",\"Newsflash\"],\"inLanguage\":\"en-ZA\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/stbb.co.za\\\/dev2\\\/stbb-newsflash-latest-news-on-the-interest-rate\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/stbb.co.za\\\/dev2\\\/stbb-newsflash-latest-news-on-the-interest-rate\\\/\",\"url\":\"https:\\\/\\\/stbb.co.za\\\/dev2\\\/stbb-newsflash-latest-news-on-the-interest-rate\\\/\",\"name\":\"STBB Newsflash | Latest News on the Interest Rate - 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