South African Reserve Bank MPC meeting scheduled for 23 Sept 2026 to decide repo rate

The South African Reserve Bank’s Monetary Policy Committee will meet and announce its repo-rate decision on 23 September 2026. The scheduled decision determines the repo (currently 7.00%) and, by convention, influences the prime lending rate (currently 10.50%).

The MPC decision on 23 Sept is a direct monetary-policy shock to short- and belly-maturity yields on South African sovereign debt and to bank prime lending. A 25bp hike would mechanically raise borrowing costs and likely push short-term yields higher while supporting the rand; a hold would ease immediate funding-cost uncertainty but could allow FX weakness and wider credit premia if inflation risks reassert. Actual market moves depend on the vote split and accompanying statement.

Stats SA releases August inflation data and the SARB publishes its MPC statement on 23 September 2026.