Interest Rate Decision November 2024

Hey everyone,

Just a heads-up: the South African Reserve Bank (SARB) is set to announce its final interest rate decision for the year today, November 21, 2024. With inflation dropping to 2.8% in October—the lowest since June 2020—there's a buzz that we might see another rate cut. Economists are predicting a 25 basis point reduction, following a similar cut in September.

The rand has been a bit shaky, trading at 18.15 against the dollar, partly due to global tensions. But a rate cut could mean lower borrowing costs for us, which is always a plus.