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The South African Reserve Bank (Sarb) Monetary Policy Committee (MPC) has cut the repo rate by 25 basis points, announced Governor Lesetja Kganyago on Thursday.

The repo rate is now at 3.5%, an all-time low.

The usually conservative MPC has shaved 300 basis points off the repo rate so far this year.

(This is a breaking news story. For more detail, listen to Bruce Whitfield’s The Money Show from 6pm.)

This article first appeared on CapeTalk : SA Reserve Bank cuts repo rate to 3.5% - an all-time low

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