South Africa interest rate: South African Reserve Bank policy rate
The South African Reserve Bank policy rate is 7.25%, in force since Sep 25, 2026. Source: Bank for International Settlements, data to Oct 26, 2026. Raised from 7.00% on Sep 25, 2026.
Rate changes
| Since | Policy rate | Change (percentage points) |
|---|---|---|
| Sep 25, 2026 | 7.25% | +0.25 |
| May 29, 2026 | 7.00% | +0.25 |
| Nov 21, 2025 | 6.75% | -0.25 |
| Aug 1, 2025 | 7.00% | -0.25 |
| May 30, 2025 | 7.25% | -0.25 |
| Jan 31, 2025 | 7.50% | -0.25 |
| Nov 22, 2024 | 7.75% | -0.25 |
| Sep 20, 2024 | 8.00% | -0.25 |
| May 26, 2023 | 8.25% | +0.50 |
| Mar 31, 2023 | 7.75% | +0.50 |
| Jan 27, 2023 | 7.25% | +0.25 |
| Nov 25, 2022 | 7.00% | +0.75 |
| Sep 23, 2022 | 6.25% | +0.75 |
| Jul 22, 2022 | 5.50% | +0.75 |
| May 20, 2022 | 4.75% | +0.50 |
| Mar 25, 2022 | 4.25% | +0.25 |
| Jan 28, 2022 | 4.00% | +0.25 |
| Nov 19, 2021 | 3.75% | +0.25 |
| Jul 24, 2020 | 3.50% | -0.25 |
| May 22, 2020 | 3.75% | -0.50 |
| Apr 15, 2020 | 4.25% | -1.00 |
| Mar 20, 2020 | 5.25% | -1.00 |
| Jan 17, 2020 | 6.25% | -0.25 |
| Jul 19, 2019 | 6.50% | -0.25 |
| Nov 23, 2018 | 6.75% | +0.25 |
| Mar 29, 2018 | 6.50% | -0.25 |
| Jul 21, 2017 | 6.75% | -0.25 |
| Mar 18, 2016 | 7.00% | +0.25 |
| Jan 29, 2016 | 6.75% | +0.50 |
| Jan 2, 2016 | 6.25% | — |
Source: Bank for International Settlements (BIS), central bank policy rates, updated daily. The rate shown is the one each central bank uses to signal its policy.
Frequently asked questions
What is the interest rate in South Africa?
The South African Reserve Bank policy rate is 7.25% (since Sep 25, 2026).
When did the South African Reserve Bank last change its policy rate?
On Sep 25, 2026, from 7.00% to 7.25%.
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