South Africa reviews prime rate used to price R6.2tr of credit
South Africa is reviewing the main reference rate commercial banks use to price trillions of rands of loans to clients. The South African Reserve Bank is working on the prime lending rate, it said by email. The measure has been fixed at 350 basis points above the country’s monetary policy rate since 2001. There are no timelines yet, the central bank said in response to questions.
South Africa is reviewing the main reference rate commercial banks use to price trillions of rands of loans to clients. The South African Reserve Bank is working on the prime lending rate, it said by email. The measure has been fixed at 350 basis points above the country’s monetary policy rate since 2001. There are no timelines yet, the central bank said in response to questions.
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