28/05/2026
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*Breaking News*
The South African Reserve Bank (SARB) has increased interest rates by 25 basis points, pushing the repo rate to 7.0% and the prime lending rate to 10.50%.
The decision comes as rising fuel prices and global tensions in the Middle East continue to place pressure on inflation. Higher oil prices, linked to disruptions in the Strait of Hormuz, have contributed to increased transport and food costs in South Africa.
While inflation remains a concern, SARB Governor Lesetja Kganyago noted that the South African economy is still showing signs of recovery, supported by positive investor sentiment and ongoing reforms.
