Reserve Bank Cuts Interest Rates

July 20, 2012

I’m very pleased to share with you that yesterday the South African Reserve bank but it’s REPO rate by 0.5% or 5 basis points.

 

This means that banks and financial institutions should now all be on par with a prime lending rate at 8.5% – this is the lowest rate in over 30 years and is welcomed by all.

Read the rest of the story here:  http://www.property24.com/articles/prime-interest-rate-cut-to-85-percent/15881?SourceFeed=News24

* information correct as per time of posting

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