The South African Reserve Bank plans to phase out the long-standing prime lending rate used by banks to price many loans, and instead anchor lending to its main policy rate. The move aims to clarify how official interest rate decisions affect borrowing costs. Talks with lenders and other stakeholders could begin as early as 2027. The bank is also preparing to introduce a new short-term reference rate as part of broader financial system reforms. Optimum Investment Group Economic Advisor Dr. Roelo

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