The official interest rate is the repo rate. This is the rate at which central banks lend or discount eligible paper for deposit money banks, typically shown on an end-of-period basis. This page provides – South Africa Interest Rate – actual values, historical data, forecast, chart, statistics, economic calendar and news.
The prime rate is an interest rate determined by individual banks. It is often used as a reference rate (also called the base rate) for many types of loans, including loans to small businesses and credit card loans. On its H.15 statistical release, "Selected Interest Rates," the Board reports the.
as well as Hang Seng Bank kept their prime lending rate unchanged at between 5.125 per cent and 5.375 per cent. Sammy Po.
The prime rate will move up or down in lock step with changes by the Federal Reserve Board. How it’s used: The prime rate is an important index used by banks to set rates on many consumer loan.