Monetary PolicyExplainer
Policy monitor: South African Reserve Bank holds at 7% with inflation at 5%
CBAN Editorial Team · 27 Jul 2026 · 4 min read
Southern Africa
South Africa
South African Reserve Bank (SARB) · Governor Lesetja Kganyago (since 2014) · South African rand (ZAR)
- Policy rate
- 7.00%
- Inflation (y/y)
- 5.0%
- GDP growth
- 1.4%
- Nominal GDP
- $403bn
- ZAR per USD
- 17.85
- FX YTD vs USD
- +1.8%
- FX reserves
- $62.5bn
- Next MPC
- 17 September 2026
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