The SARB’s Monetary Policy Committee have taken the decision to increase the Repo Rate yet again by 50 basis points [0.50%] from 4.25% to 4.75%, which will take effect on 20 May 2022.
Therefore, the Prime Rate has also increased from 7.75% to 8.25%.
This is the largest interest rate hike since January 2016.
Contact info@stbb.co.za for any questions or assistance.