Economy · Monetary policy rate · South Africa
South Africa’s monetary policy rate rose to 7.3% in 25 Sep 2026.
7.3%
25 Sep 2026
Up 0.25 pp from 23 Sep 2026.
Updated 25 Oct 2026
In plain words
7.3%
What it is. The central bank's policy rate, as set at each monetary policy committee meeting.
Neither way is good in itself. Whether a change is welcome depends on why it happened, so read it against its own history and other countries.
Why it matters. A percentage puts countries of different sizes on the same footing, so it can be compared across borders and over time.
| Period | Monetary policy rate · South Africa |
|---|---|
| 17 Jan 2020 | 6.3% |
| 20 Mar 2020 | 5.3% |
| 15 Apr 2020 | 4.3% |
| 22 May 2020 | 3.8% |
| 24 Jul 2020 | 3.5% |
| 19 Nov 2021 | 3.8% |
| 28 Jan 2022 | 4% |
| 25 Mar 2022 | 4.3% |
| 20 May 2022 | 4.8% |
| 22 Jul 2022 | 5.5% |
| 23 Sep 2022 | 6.3% |
| 25 Nov 2022 | 7% |
| 27 Jan 2023 | 7.3% |
| 31 Mar 2023 | 7.8% |
| 26 May 2023 | 8.3% |
| 20 Sep 2024 | 8% |
| 22 Nov 2024 | 7.8% |
| 31 Jan 2025 | 7.5% |
| 30 May 2025 | 7.3% |
| 1 Aug 2025 | 7% |
| 21 Nov 2025 | 6.8% |
| 29 May 2026 | 7% |
| 23 Sep 2026 | 7% |
| 25 Sep 2026 | 7.3% |
Source: South African Reserve Bank, SARB policy rate (repo rate), shown on the date each change takes effect · Licence: Official public data of the South African Reserve Bank, credited to the bank. Reuse confirmed by the owner, 20 Oct 2026 (T-079)
How to read this number
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Every change is logged in Corrections. How the figure is made: Methodology.
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Strata-AF™ Data, Monetary policy rate, South Africa, 25 Sep 2026; source South African Reserve Bank, SARB policy rate (repo rate), shown on the date each change takes effect, retrieved 25 Oct 2026; https://data.strata-af.com/economy/monetary-policy-rate/south-africa
Data insights · Worked out from the published figures
What this means
Working this out from the published figures…
Strata AI commentary is coming — reviewed, dated, and generated only from the figures on this page.
Methodology
The central bank's policy rate, as set at each monetary policy committee meeting.
The central bank's main policy interest rate, as announced after each Monetary Policy Committee (MPC) meeting. Unit: %.
The rate used for each country: Nigeria, the Monetary Policy Rate; Kenya, the Central Bank Rate; South Africa, the policy rate (formerly the repo rate); Ghana, the Monetary Policy Rate; Egypt, the overnight deposit rate.
Source: each central bank's own MPC statement or communiqué, cited on every data point. Updated each time the MPC meets, whether or not the rate changes. Meeting dates differ by country, so points are not aligned.
Caution: the rates are not strictly comparable. Each central bank uses a different instrument and corridor, and Egypt's headline rate is a deposit rate.