The benchmark interest rate in South Africa was last recorded at 6.75 percent. This dataset provides - South Africa Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

South Africa: Real interest rate: Bank lending rate minus inflation: The latest value from 2024 is 7.49 percent, an increase from 6.39 percent in 2023. In comparison, the world average is 4.99 percent, based on data from 73 countries. Historically, the average for South Africa from 1961 to 2024 is 3.4 percent. The minimum value, -11.01 percent, was reached in 1980 while the maximum of 12.69 percent was recorded in 1998.

Key information about South Africa Policy Rate

• South Africa cash rate (Policy Rate: Month End: Repo Rate) was set at 6.75 % pa in Nov 2025, compared with 7.00 % pa in the previous Oct 2025.
• South Africa Policy Rate averaged 5.00 % pa and is updated monthly, available from Nov 1999 to Nov 2025.
• The data reached an all-time high of 13.50 % pa in May 2003 and a record low of 3.50 % pa in Oct 2021.

Related information about South Africa Policy Rate

• In the latest reports, South Africa Short Term Interest Rate: Month End: Treasury Bills Rate: 91 Days was reported at 6.66 % pa in Nov 2025.
• Its Long Term Interest Rate (Government Bond Yield: Month End: 10 Years and Over) was reported at 8.98 % pa in Nov 2025.
• South Africa Exchange Rate against USD averaged 17.27 (USD/ZAR) in Oct 2025.
• Its Real Effective Exchange Rate was 89.88 in Sep 2025.

Monthly and long-term South Africa Interest Rate data: historical series and analyst forecasts curated by FocusEconomics.

FocusEconomics' economic data is provided by official state statistical reporting agencies as well as our global network of leading banks, think tanks and consultancies. Our datasets provide not only historical data, but also Consensus Forecasts and individual forecasts from the aformentioned global network of economic analysts. This includes the latest forecasts as well as historical forecasts going back to 2010. Our global network consists of over 1000 world-renowned economic analysts from which we calculate our Consensus Forecasts. In this specific dataset you will find economic data for South Africa Interest Rate.

South Africa ZA: Real Interest Rate data was reported at 4.584 % pa in 2017. This records an increase from the previous number of 3.451 % pa for 2016. South Africa ZA: Real Interest Rate data is updated yearly, averaging 3.728 % pa from Dec 1961 (Median) to 2017, with 57 observations. The data reached an all-time high of 13.012 % pa in 1998 and a record low of -12.315 % pa in 1980. South Africa ZA: Real Interest Rate data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s South Africa – Table ZA.World Bank.WDI: Interest Rates. Real interest rate is the lending interest rate adjusted for inflation as measured by the GDP deflator. The terms and conditions attached to lending rates differ by country, however, limiting their comparability.; ; International Monetary Fund, International Financial Statistics and data files using World Bank data on the GDP deflator.; ;

Lending Rate in South Africa remained unchanged at 10.50 percent in October. This dataset provides - South Africa Lending Rate- actual values, historical data, forecast, chart, statistics, economic calendar and news.

South Africa: Interest rates on bank credit to the private sector: The latest value from 2024 is 11.63 percent, an increase from 11.5 percent in 2023. In comparison, the world average is 11.26 percent, based on data from 75 countries. Historically, the average for South Africa from 1960 to 2024 is 12.32 percent. The minimum value, 5.5 percent, was reached in 1963 while the maximum of 22.33 percent was recorded in 1984.

South Africa ZA: Deposit Interest Rate data was reported at 7.245 % pa in 2017. This records an increase from the previous number of 7.172 % pa for 2016. South Africa ZA: Deposit Interest Rate data is updated yearly, averaging 6.309 % pa from Dec 2008 (Median) to 2017, with 10 observations. The data reached an all-time high of 11.613 % pa in 2008 and a record low of 5.152 % pa in 2013. South Africa ZA: Deposit Interest Rate data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s South Africa – Table ZA.World Bank.WDI: Interest Rates. Deposit interest rate is the rate paid by commercial or similar banks for demand, time, or savings deposits. The terms and conditions attached to these rates differ by country, however, limiting their comparability.; ; International Monetary Fund, International Financial Statistics and data files.; ;

South Africa’s inflation has been quite stable for the past years, levelling off between 3.2 and 6.9 percent, and is in fact expected to stabilize at around 4.5 percent in the future. South Africa is a mixed economy, generating most of its GDP through the services sector, especially tourism. However, the country struggles with unemployment and poverty. Inflation who?The inflation rate of a country is an important key factor to determine the country’s economic strength. It is calculated using the price increase of a defined product basket, containing goods and services on which the average consumer spends money throughout the year. They include, for example, expenses for groceries, clothes, rent, utilities, but also recreational activities, and raw materials (e.g. gas, oil), as well as federal fees and taxes. Some of these goods are more volatile than others – food prices, for example, are considered less reliable. The European Central Bank aims to keep inflation at around two percent in the long run. What happened in 2016?In 2016, South Africa’s inflation rate peaked at over 6.3 percent, and gross domestic product, and thus economic growth , took a hit, a sure indicator that something was affecting the country’s economic scaffolding: Low growth due to weak demand and an uncertain political future caused a crisis; then-President Jacob Zuma’s alleged mismanagement and unstable reign steeped in controversy and criminal charges even caused the economy’s outlook to be downgraded by ratings agencies. Zuma was relieved of his office in 2018 – ever since, inflation, GDP, and economic growth seem to have stabilized.

This dataset provides values for INTEREST RATE reported in several countries. The data includes current values, previous releases, historical highs and record lows, release frequency, reported unit and currency.

South Africa Prime Lending Rate data was reported at 10.250 % pa in Nov 2025. This records a decrease from the previous number of 10.500 % pa for Oct 2025. South Africa Prime Lending Rate data is updated monthly, averaging 8.500 % pa from Jan 2000 (Median) to Nov 2025, with 311 observations. The data reached an all-time high of 17.000 % pa in May 2003 and a record low of 7.000 % pa in Oct 2021. South Africa Prime Lending Rate data remains active status in CEIC and is reported by South African Reserve Bank. The data is categorized under Global Database’s South Africa – Table ZA.M: Prime Lending Rate.

Inflation Rate in South Africa increased to 3.60 percent in October from 3.40 percent in September of 2025. This dataset provides - South Africa Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

South Africa ZA: Money Market Rate data was reported at 6.870 % pa in 2017. This records an increase from the previous number of 6.857 % pa for 2016. South Africa ZA: Money Market Rate data is updated yearly, averaging 9.892 % pa from Dec 1976 (Median) to 2017, with 42 observations. The data reached an all-time high of 20.308 % pa in 1984 and a record low of 4.400 % pa in 1980. South Africa ZA: Money Market Rate data remains active status in CEIC and is reported by International Monetary Fund. The data is categorized under Global Database’s South Africa – Table ZA.IMF.IFS: Money Market and Policy Rates: Annual.

Key information about South Africa Real Effective Exchange Rate

• South Africa Real Effective Exchange Rate (REER: 2005=100: Month Avg: South Africa) was 89.9 in Sep 2025, compared with the number of 89.4 in the previous month.
• South Africa Real Effective Exchange Rate data is updated monthly and averaged 143.5 from Jan 1970 to Sep 2025.
• The data reached an all-time high of 143.5 in Aug 1983 and a record low of 63.9 in Dec 2001.

CEIC generates Real Effective Exchange Rate Index with base 2005=100. South African Reserve Bank provides Real Effective Exchange Rate Index with base 2015=100. Producer Price Index for manufactured goods is used as a deflator. An increase in REER indicates reduced competitiveness for the reporting economy.


Related information about South Africa Real Effective Exchange Rate

• In the latest reports, South Africa Short Term Interest Rate: Month End: Treasury Bills Rate: 91 Days was reported at 6.7 % pa in Nov 2025.
• The cash rate (Policy Rate: Month End: Repo Rate) was set at 6.8 % pa in Nov 2025.
• South Africa Exchange Rate against USD averaged 17.3 (USD/ZAR) in Oct 2025.

Up until 2014-2015, the South African property market was all about sellers and landlords seeking high rents, especially in two key markets, Johannesburg and Cape Town. However, since then it has become a buyer’s market with overall revenues of property owning and letting expected to fall from 12.7 billion U.S. dollars in 2017 to 11.5 billion U.S. dollars in 2023. A struggling economy, much political noise and a resultant lack of discretionary spending are the three key reasons for the slump in prices. The impact has been mainly felt in the high-end segment with investors opting out and only actual users completing transactions. Foreign buying, which earlier accounted for a significant portion of market revenues is also on the wane, with more of this consumer segment actually looking to sell. The Covid-19 outbreak has plunged the South African economy deep into recession with a recovery over the short to medium term unlikely. However, this doesn’t augur badly for the property market as a whole. In fact, the interest rate cut by the central bank in January, along with an increase in the transfer duty threshold to R1 million and personal income tax relief, is likely to boost the lower segment and result in more buyers.

South Africa Manufacturing Survey: Transport: Shortage: Short Term Interest Rates data was reported at 52.000 % in Jun 2018. This records an increase from the previous number of 50.000 % for Mar 2018. South Africa Manufacturing Survey: Transport: Shortage: Short Term Interest Rates data is updated quarterly, averaging 47.000 % from Sep 1987 (Median) to Jun 2018, with 124 observations. The data reached an all-time high of 95.810 % in Dec 1998 and a record low of 4.000 % in Sep 2011. South Africa Manufacturing Survey: Transport: Shortage: Short Term Interest Rates data remains active status in CEIC and is reported by Bureau for Economic Research. The data is categorized under Global Database’s South Africa – Table ZA.S023: Business Survey: Manufacturing: Transport.

South Africa ZA: External Debt: Average Interest on New External Debt Commitments: Official data was reported at 2.386 % in 2017. This records an increase from the previous number of 1.112 % for 2016. South Africa ZA: External Debt: Average Interest on New External Debt Commitments: Official data is updated yearly, averaging 0.000 % from Dec 1970 (Median) to 2017, with 48 observations. The data reached an all-time high of 5.900 % in 2000 and a record low of 0.000 % in 2015. South Africa ZA: External Debt: Average Interest on New External Debt Commitments: Official data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s South Africa – Table ZA.World Bank: External Debt: Terms and Undisbursed Debt. Interest represents the average interest rate on all new public and publicly guaranteed loans contracted during the year. To obtain the average, the interest rates for all public and publicly guaranteed loans have been weighted by the amounts of the loans. Debt from official creditors includes loans from international organizations (multilateral loans) and loans from governments (bilateral loans). Loans from international organization include loans and credits from the World Bank, regional development banks, and other multilateral and intergovernmental agencies. Excluded are loans from funds administered by an international organization on behalf of a single donor government; these are classified as loans from governments. Government loans include loans from governments and their agencies (including central banks), loans from autonomous bodies, and direct loans from official export credit agencies.; ; World Bank, International Debt Statistics.; Weighted average;

Policymakers often prescribe that microfinance institutions increase interest rates to eliminate their reliance on subsidies. This strategy makes sense if the poor are rate insensitive: then microlenders increase profitability (or achieve sustainability) without reducing the poor's access to credit. We test the assumption of price inelastic demand using randomized trials conducted by a consumer lender in South Africa. The demand curves are downward sloping, and steeper for price increases relative to the lender's standard rates. We also find that loan size is far more responsive to changes in loan maturity than to changes in interest rates, which is consistent with binding liquidity constraints.

Interbank Rate in South Africa remained unchanged at 6.61 percent on Friday November 28. This dataset provides - South Africa Interbank Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.