MPC Insights

The latest news and views from South Africa's Monetary Policy Committee

The MPC or Monetary Policy Committee is a five-member committee of the South African Reserve Bank (SARB) entrusted with steering monetary policy in line with the bank’s inflation targets and framework.

WATCH: Unpacking the Sarb's first interest rate decision for 2025

Business Day TV sat down with Citadel's chief economist, Maarten Ackerman and Investec's chief economist, Annabel Bishop to discuss the outcome of the South African Reserve Bank's (Sarb) first interest rate decision for the year.

Die Reserwebank sny rentekoerse met ‘n kwartpersent

'Verbruikers behoort vanjaar in 'n beter finansiële posisie te wees': Tertia Jacobs – tesourie-ekonoom, Investec.

Analysts unanimous: SARB to cut rates by 25bps today

Joining CNBC Africa for this discussion are Koketso Mano, Senior Economist, FNB, Frank Blackmore, Lead Economist at KPMG and Annabel Bishop, Chief Economist, Investec.

Interest Rate Outlook: slow and steady, more cuts next year

22 November 2024

The South African Reserve Bank’s latest monetary policy communication shows a slow and steady approach, only cutting the repo rate by -25bp this month

4 min read

When is the next MPC?

29 May 2025

When are the other 2025 MPC meetings?

31 July 202518 September 202520 November 2025

Investec insights on MPC

MPC FAQs

What is the MPC?
The MPC or Monetary Policy Committee is a five-member committee of the SARB entrusted with steering monetary policy in line with the bank’s inflation targets and framework.

The current members of the MPC are:
- Mr Lesetja Kganyago, Governor
- Ms Nomfundo Tshazibana, Deputy Governor
- Dr Mampho Modise, Deputy Govenor
- Dr Rashad Cassim, Deputy Governor
- Dr Christopher Loewald, Head: Economic Research Department
- Dr David Fowkes, Advisor to the Govenors
How often are MPC meetings?

MPC meetings are held throughout the year, with MPC announcements on South Africa’s repo rate presented six time a year.
When is the next MPC meeting in South Africa?

The next MPC meeting in South Africa will be held on 21 November 2024.