News / Economy and costs
Reserve Bank announces its next interest rate decision on 23 September
With the repo rate at 7% and prime at 10.50%, the 23 September decision will set the cost of variable-rate business debt.
- Who it affects
- Businesses and owners with overdrafts, loans or vehicle finance linked to prime
- Decision on
- 23 September 2026
- Action
- Check which of your debts are linked to prime and model a change in your cash flow
- Official source
- South African Reserve Bank: Monetary Policy Committee
- Last checked
- 19 September 2026
What changed
The South African Reserve Bank’s Monetary Policy Committee (MPC) raised the repo rate by 0.25 percentage points to 7% at its May 2026 meeting, citing rising inflation risks. On 23 July 2026 it held the rate at 7%, with four members voting to hold and two preferring another increase. The prime lending rate is 10.50%.
The next announcement is on 23 September 2026. The last one of the year is on 19 November 2026.
Who it affects
Any business, or owner, with debt at a variable rate linked to prime: overdrafts, term loans, vehicle and asset finance, and owners’ personal loans and home loans. When the repo rate moves, banks normally move prime by the same amount.
What to do
- List your debts and note which ones are linked to prime.
- Work out what a 0.25 percentage point change would do to your monthly repayments, up or down.
- Put that figure into your cash flow forecast before 23 September so the decision does not catch you out.
Where to find out more
- SARB Monetary Policy Committee: the statement is published here on the day
- SAnews: Reserve Bank keeps interest rate unchanged (23 July 2026)
- Our free 13-week cash flow forecast template
This update is general information, checked against the official source on the date shown. It is not legal, tax or financial advice. Rules and dates can change, so confirm with the official source or a qualified adviser before you act.