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South African Reserve Bank

Got money?

When the pandemic hit, did you have a plan for your finances, especially knowing that you could lose your job or have your salary cut? Or did you continue spending thinking you’ll always have money in the bank? It seems more of you did the former. The South African Reserve Bank found that more people …

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Interest rate unchanged at 3.5%

The South African Reserve Bank (SARB) today announced its decision to hold the interest rate at its all-time low of 3.5%, citing Covid-19 uncertainty and the looming third wave. Economists predicted that SARB governor Lesetja Kganyago will maintain the 3.5% rate for the whole of 2021. Since the start of the pandemic last year, the …

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