What is the next interest rate decision South Africa 2023? South Africa SARB Interest Rate Decision The South African Reserve Bank decided unanimously to leave its key repo rate steady at 8.25% on November 23rd, 2023, in line with expectations. This decision aimed to firmly anchor inflation expectations around the target midpoint and enhance confidence in achieving the inflation goal. The bank mentioned that inflation risks remain elevated, while the risks for medium-term domestic growth appear balanced. October’s headline inflation surged to 5.9%, nearing the upper limit of the 3% to 6% target range and moving away from the preferred 4.5% midpoint where it prefers to anchor inflation expectations. Despite this, the inflation forecast was revised slightly down to 5.8% for this year (vs 5.9% in September) and 5% for 2024 (vs 5.1%). Looking ahead, the projection indicates stability at 4.5% for both 2025 and 2026. Regarding economic activity, the SARB lifted its GDP growth forecast to 0.8% for this year (up from 0.7%), to 1.2% for 2024 (vs 1%), and to 1.3% for 2025 (vs 1.1%). source: South African Reserve Bank Actual ConsensusCons. 8.25 % 8.25 % Calendar GMT Reference Actual Previous Consensus TEForecast 2023-07-20 01:00 PM 8.25% 8.25% 8.25% 8.25% 2023-09-21 01:00 PM 8.25% 8.25% 8.25% 8.25% 2023-11-23 01:00 PM 8.25% 8.25% 8.25% 8.25% 2024-01-25 01:00 PM 8.25% 8.25% 2024-03-27 01:00 PM 2024-05-30 01:30 PM Related Last Previous Unit Reference Interest Rate 8.25 8.25 percent Nov 2023 Interbank Rate 8.37 8.37 percent Nov 2023 Money Supply M0 401501.00 409000.00 ZAR Million Oct 2023 Money Supply M1 2553640.00 2590735.00 ZAR Million Sep 2023 Money Supply M2 4094931.00 4067165.00 ZAR Million Sep 2023 Money Supply M3 4997643.00 4978144.00 ZAR Million Sep 2023 Foreign Exchange Reserves 60962.00 61131.00 USD Million Oct 2023 Banks Balance Sheet 7588883.00 7527055.00 ZAR Million Sep 2023 Loans to Private Sector 4611017.00 4542279.00 ZAR Million Sep 2023 Lending Rate 11.75 11.75 percent Nov 2023 Central Bank Balance Sheet 1194915.00 1217073.00 ZAR Million Oct 2023 South Africa Interest Rate In South Africa, the interest rates decisions are taken by the South African Reserve Bank’s Monetary Policy Committee (MPC). The official interest rate is the repo rate. This is the rate at which central banks lend or discount eligible paper for deposit money banks, typically shown on an end-of-period basis. Actual Previous Highest Lowest Dates Unit Frequency 8.25 8.25 23.99 3.50 1998 – 2023 percent Daily Compare Interest Rate by Country News Stream South Africa Keeps Rates Steady The South African Reserve Bank decided unanimously to leave its key repo rate steady at 8.25% on November 23rd, 2023, in line with expectations. This decision aimed to firmly anchor inflation expectations around the target midpoint and enhance confidence in achieving the inflation goal. The bank men South Africa Leaves Policy Rates Unchanged The South African Reserve Bank kept its key repo rate steady at 8.25% during its September 2023 meeting, as anticipated, but emphasized that the fight against inflation was not yet done. Policymakers cited concerns about the continued depreciation of the rand and the ongoing pressures on inflation . South Africa Keeps Rates Steady The South African Reserve Bank left its key repo rate unchanged at a 14-year high of 8.25% during its July 2023 meeting, matching expectations, and marking a pause in its tightening cycle after 10 consecutive rate hikes. However, the Governor noted the decision does not represent the end of the hiki. Related South African Stocks at Over 3-Month High, Post Weekly Rise South African Rand Firmer South Africa Keeps Rates Steady South Africa Inflation Rate Quickens More than Expected South Africa Business Morale Weakens in Q4 South Africa Business Cycle Index Rises for 4th Month South Africa Building Permits Continue to Sink South Africa’s Retail Sales Rebound More than Expected South Africa Jobless Rate at 1-Year Low of 31.9% South Africa Factory Output Drops More than Expected Latest Canadian Dollar at Over 1-Month High Brazilian Stocks Retreat, Post Weekly Gains Canadian Shares Post Weekly Losses US Stocks Close Mixed on Short Session Week Ahead – Nov 27th UK Shares Edge Up Led by Autos Mexican Peso Approaches 2-Month High German Stocks Close at Near 3-Month High Paris Stocks End at Over 2-Month High, Book Weekly Rise Madrid Stocks End at Fresh 2020-High, Post Weekly Gain