JOHANNESBURG, Sept. 19 (Xinhua) -- The South African Reserve Bank (SARB), the country's central bank, said Thursday that it has decided to cut the repurchase rate by 25 basis points to 8 percent, effective from Friday.
SARB Governor Lesetja Kganyago said while the decision to reduce the main lending rate by 25 basis points was unanimous, there had been discussions about a potential 50 basis point cut. "Our approach is risk-based, and we exercise judgment. It all depends on the assessment of the risk," Kganyago explained.
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