Interest rates cut by 50 basis points

By Andy Rice 9 September 2010

Reserve bank governor Gill Marcus has announced that the SA Reserve Bank's Monetary Policy Committee has unanimously voted to cut the repo rate by 50 basis points. The rate is now sitting at 6%, and the prime rate at 9.5%, the first time it has been in single figures for more than 30 years. The move was no surprise, having been predicted by everyone and their mom.

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