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When was the last repo rate increase in SA?

The last repo rate increase was in May 2023, when the rate was bumped to 8.25%, making the prime lending rate 11.75%.

Since then, the South African Reserve Bank has had two meetings and opted to leave the rate untouched.

Experts predict the repo rate may even drop in late 2024.

Interest rates were on the rise for a couple of years as the SARB sought to combat inflation, but that trend has shown signs of reversing and the interest rate remains at its May 2023 level of 8.25%.

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