South African Reserve Bank raises repo rate 25 basis points to 7.25%

Sep 23, 2026 13:10 (30d ago)

South African Reserve Bank raised its key repo rate to 7.25%.
Consumer price inflation increased to 4.4% in August from 4.3% in July.
The unanimous decision cited inflation control and higher fuel prices affecting headline inflation.

The South African Reserve Bank raised its key repo rate by 25 basis points to 7.25% on September 23, in a unanimous decision widely expected by markets. The central bank said the increase was needed to bring inflation back toward its 3%-6% target range. Consumer price inflation rose to 4.4% in August from 4.3% in July, remaining close to the midpoint of the range. The Reserve Bank also increased its near-term inflation forecasts, pointing to higher fuel prices and their effect on headline inflation.