An early Christmas present for indebted South Africans, as the Reserve Bank cut the repo rate by 25 basis points. The rate cut brings the repo rate to 6.75% and the prime lending rate – the benchmark rate which banks charge borrowers will be 10.25%. This will put more money in the pockets of indebted consumers as they will be paying a bit less on their debts. For more, we are joined by the Chief Economist at Antswisa Management Group, Miyelani Mkhabela.
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