Dr Samantha Smith is STBB's chief Content Writer and Legal Editor, a position she has occupied since February 2024. Samantha graduated with a BSocSci, LLB, LLM, and PhD (Law) from the University of Cape Town. She brainstorms and writes all social media, newsflashes, newsletters, digital and print advertisements, magazine articles, webinar invitations, and podcast blurbs. Furthermore, Samantha creates tenders and proposals, legal updates and presentations, information sheets, content for special projects, and text for various other digital publications and communications. Additionally, she writes or edits biographies, and works on brochures, handouts, and other STBB collateral. Outside of her demanding role, Samantha is a passionate animal and environmental advocate whose comprehensive research has been praised by some of the world's leading animal law experts, including the planet's most published animal law scholar and an Acting Justice of South Africa's Constitutional Court.

STBB Newsflash | Eighth time’s a charm: SARB lowers the repo rate

Moments ago, the Monetary Policy Committee of the South African Reserve Bank (‘SARB’) convened its fifth meeting of the year. As widely predicted by major financial institutions and economic analysts, SARB finally elected to lower the repo rate from 8.25% to 8%, with effect from tomorrow, 20th September 2024.  Accordingly, the prime lending rate is adjusted to 11.5%. This marks the first time in eight meetings that SARB has altered the repo rate.

The adjustment follows the easing of consumer inflation from 5.1% in June to 4.4% in August, which is below SARB’s mid-point target range of 4.5%. Indeed, analysts estimate that inflation may drop below the 4% threshold in October.

Crucially, the interest rate cut provides a modicum of 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 cuts in November and early 2025.

For further information or legal assistance, contact us at info@stbb.co.za.

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