Rate Cuts 2024 South Africa. South africa's reserve bank will leave its repo rate on hold this week but cut rates by 25 basis points to 8.00% in september as inflation cools, a reuters poll found. South africans could breathe a small sigh of relief as interest rates could come down by the middle of 2024, according to mpho molopyane, the chief economist.
South africa needs to sustain a low inflation rate to justify a change in the central bank’s monetary policy stance, governor lesetja kganyagosaid. South africa’s kganyago doesn’t see rate cuts amid sticky prices.