Dr Samantha Smith holds a BSocSci, LLB, LLM, and PhD (Law) from the University of Cape Town. Skilled in socio-legal analysis, critical thinking, and creative and technical writing, she previously worked in investigative legal research, with a special focus on animal law and environmental policy. As the firm's chief content writer and editor, Samantha handles all STBB content, including social media, newsflashes, newsletters, articles and advertisements for publication in magazines and online portals, tenders and proposals, legal updates and presentations, webinar and podcast advertisements, biographies, brochures, information sheets, content for special projects, and various digital publications.

Newsflash | SARB lowers the repo rate again

Earlier this afternoon, the Monetary Policy Committee of the South African Reserve Bank (‘SARB’) convened its sixth and final meeting of 2024. As widely predicted by economic analysts and major financial institutions, SARB elected to lower the repurchase rate (‘repo rate’) from 8% to 7.75%, with effect from tomorrow, 22nd November 2024. Accordingly, the prime lending rate for commercial banks is adjusted to 11.25%.

The adjustment follows the consistent easing of consumer price inflation, which declined from 3.8% in September to 2.8% in October, and is now at a four-year low. Against the backdrop of disinflationary trends, the interest rate cut will provide additional relief to homeowners whose bond repayments increased significantly after SARB raised the repo rate by a cumulative 3.75% beginning in November 2021.

Positively, economists anticipate further interest rate cuts in early 2025, with some forecasting an additional 75-basis point reduction in 2025, resulting in a repo rate of 7% and a prime lending rate of 10.5% by year-end.

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