The repo rate forms the foundation of our economic system, yet how many of us can confidently say we understand how it affects our finances? The repo (or repurchase) rate is the interest rate at which the South African Reserve Bank (SARB) lends money to commercial banks – and can have a surprising effect on how we make our money decisions. A recent review by the SARB left it unchanged at 8.25%, but a rate cut is still on the cards for later this year. Ayanda Ndimande, Strategic Business Development Manager at Sanlam Retail Credit, delves into how this can impact your wallet here.
How does the repo rate impact your pocket?
