23 March 2020 – Decreased the repo rate by 100 basis points

This item is sourced from COVID-19 Policy Watch co-ordinated by Policy. We are in the process of gathering further information and aligning taxonomies for these items.

Type of Intervention: Financial markets and monetary policy
Sectors Involved:
Level of Jurisdiction: National
Lead People/Agency:

Overview: The South African Reserve Bank decreased the repo rate by 100 basis points.

The measure is intended to increase the money supply in the country, make lending cheaper, reduce the strain on borrowers, and inject liquidity into the economy.
Full details here: https://www.gov.za/speeches/president-cyril-ramaphosa-escalation-measures-combat-coronavirus-covid-19-pandemic-23-mar