• Kaplan Blumberg

Reserve Bank cuts repo rate again

Updated: Jul 3, 2020

The Reserve Bank's Monetary Policy Committee announced just now that it has decided to cut the interest rate for the fourth time this year, from 4.25% to 3.75%. As a result of the cut, the prime lending rate will fall from 7.75% to 7.25%. This will in turn bring the bank interest rates down and provide some much needed relief for consumers.

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