South Africa Interest Rate
Jul 2026 · Monthly
South Africa's policy interest rate held at 7% in August 2026, unchanged from July 2026. The rate has remained at this level for three consecutive months, following a rise from 6.75% in May 2026. It stands well below the all-time high of 21.855% recorded in September 1998, and above the record low of 3.5% set in October 2021. The series, which began in December 1980, shows the rate at 7% as of August 2025, a year earlier, according to the Bank for International Settlements.
source: Bank for International Settlements
South Africa's policy benchmark interest rate stood at 7% in July 2026, unchanged from the previous month. The rate remains far below the all-time high of 21.855% recorded in September 1998 and well above the record low of 3.5% from October 2021. The series dates back to December 1980.
| Actual | Previous | Highest | Lowest | Dates | Frequency |
|---|---|---|---|---|---|
| 7.0% | 7.0% | 21.9%Sep 1998 | 3.5%Oct 2021 | 1980 – 2026 | Monthly |
Related indicators
| Indicator | Last | Previous | Highest | Lowest | Last updated | Frequency |
|---|---|---|---|---|---|---|
| Exchange Rate | 16.46 per USD | 16.40 per USD | 19.05 per USD | 0.67 per USD | Jul 2026 | Monthly |
| Inflation Rate | 4.3% | 5.0% | 20.9% | -2.0% | Jul 2026 | Monthly |
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About this series
Interest Rate in South Africa averaged 9.7% from 1990 until 2026, reaching an all-time high of 21.9% in Sep 1998 and a record low of 3.5% in Oct 2021. The series is reported monthly with history from 1980.
The policy or benchmark interest rate is the key rate set by the central bank to influence monetary conditions. It is expressed as an annual percentage and reported on a monthly basis. Data are available from December 1980 onward, providing a long-term perspective on South Africa's monetary policy stance.
Source & methodology
Bank for International Settlements · BIS central bank policy rates
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