Moments ago, the Monetary Policy Committee of the South African Reserve Bank (‘SARB’) concluded its second meeting of 2025. As predicted by most economists, SARB elected to keep the repo rate at 7.5%, effective 21st March 2025. Accordingly, the prime lending rate remains 11%.
The decision comes after three consecutive rate cuts, beginning in September 2024. Although global oil prices have declined and consumer inflation, which remained steady at 3.2% in February, is well below SARB’s mid-point target range of 4.5%, the Reserve Bank retained its characteristically cautious approach. Given global market uncertainty and the proposed looming VAT increase, however, SARB’s circumspect stance is unsurprising.
While interest rates and VAT may change, STBB remains committed to your transaction, however big or small.
Our revolutionary STBB Direct mobile application allows our valued clients to perform a range of convenient cost calculations and to keep track of the impact of interest rate adjustments and property-related taxes on their transactions.
With STBB Direct, you can track the progress of your property transactions directly from your mobile device. Receive live updates of your matters – anytime and from anywhere.
Download STBB Direct from the App Store or Google Play today!
For further information or to speak with one of our property law specialists, contact us at info@stbb.co.za.
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