 |
SARB repo rate - South African central bank’s interest rate
Charts - historic SARB interest rates
Graph South African interest rate SARB - last year |
|
Graph South African interest rate SARB - long-term graph |
|
South African Reserve Bank
The South African Reserve Bank (SARB) is South Africa’s central bank. The SARB’s vision is based on maintaining the growth of the South African economy. The basis for this lies in the market system, competition, justice and balanced economic development. The mission of the South African central bank is to achieve and maintain price stability and protect the value of the currency, the rand. The SARB’s monetary policy is based on an inflation target which currently works with a range of 3 to 6 percent on a rolling basis (CPI). For an overview of current inflation in South Africa, click here
SARB repo (interest) rate
When reference is made to the South African interest rate this often refers to the repo rate. This base rate is also called the repurchase rate. In order to counter inflation, excessive growth of the available funds (money) must be prevented. To this end the commercial banks must keep interest rates at a level which prevents an excessive growth in bank lending. In order to achieve this the central bank sets the level of the repo (repurchase) rate, thereby influencing the interest rates that banks pass on to their customers for products such as mortgages, business and personal loans and savings.
This page shows the current and historic values of the SARB’s repo rate.
For a summary of the current interest rates of a large number of central banks please click here.
Tables - current and historic South African central bank interest rates
SARB latest interest rate changes
| november 19 2010 |
5.500 % |
| september 09 2010 |
6.000 % |
| march 25 2010 |
6.500 % |
| august 14 2009 |
7.000 % |
| may 29 2009 |
7.500 % |
| may 04 2009 |
8.500 % |
| march 25 2009 |
9.500 % |
| february 06 2009 |
10.500 % |
| december 12 2008 |
11.500 % |
| june 13 2008 |
12.000 % |
|
|
Summary of other central banks’ interest rates
|
|
|
|
|
|