SARB cuts rate by 0.5% and Rand breaks support at 17.80/$

The Reserve Bank's monetary policy committee has voted to reduce the repo rate for the fourth time this year, from 4.25% to 3.75%, with effect from 22 May 2020.

As a result of the cut, the prime lending rate will fall to from 7.75% to 7.25%.

Read the full MPC statement

For further information and guidance from the World Health Organisation on current outbreak of coronavirus disease (COVID-19), visit this page for daily updates.

For up to date and correct information on the status of COVID-19 in South Africa, start a chat with the official Department of Health WhatsApp support service at 0600 123456 (Just say 'hi' to get started).

Yours in health,

Shane Thom, CFP^® GTP(SA)™
Managing Partner: Integrated Wealthcare Advisor