Sarb: prime rate to repo rate spread immaterial
A report published on Thursday by the South African Reserve Bank finds the size of the spread between the repo and prime rates is immaterial to the setting of lending rates, as the prime rate is primarily used as a reference rate or benchmark for pricing loans.
The repo rate is the central bank's benchmark rate
The report follows discussions on the spread between the repo rate and the prime rate at a meeting held on 21 May 2009 between the governor of the Reserve Bank, executives of South Africa
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