WATCH: Reserve Bank cuts interest rate

Indebted consumers may get some relief today when the Reserve Bank announces its interest rate decision.

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JOHANNESBURG - South Africans saw the first interest rate cut in a year.

The Reserve Bank announced its decision on Thursday afternoon.

The move would provide some much-needed relief for consumers.

WATCH: Repo rate remains unchanged

It's been a year since bond or car loan repayments dropped.

In that time, consumers faced higher taxes and steeper fuel price increases

But analysts say the ground is fertile for an interest rate cut.

READ: Most South Africans are broke by mid-month

This latest rate announcement will come hot on the heels of Lesetja Kganyago’s reappointment as Reserve Bank Governor.

The bank’s repeated affirmation that its independent mandate is primarily linked to keeping inflation in check.

Indebted consumers may get some relief on Thursday when the Reserve Bank announces its interest rate decision.

Source
eNCA