Repo Rate

The interest rate at which the South African Reserve Bank lends money to commercial banks. Changes to the repo rate directly affect the prime lending rate, which in turn affects variable-rate loans.

Usage Examples

"The Reserve Bank cut the repo rate by 0.25%, which means the prime rate drops from 11.75% to 11.50%."

"When the repo rate goes up, your variable-rate home loan instalment increases."

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