South Africa policy rate in 2020 (5 changes)

Start of year6.50%

End of year3.50%Dec 31, 2020

Net change-300 bp0 hikes, 5 cuts

Average4.35%

Rank by level7 / 38

Changes in 2020

Date	From	To	Change
Jan 17, 2020	6.50%	6.25%	cut -25 bp
Mar 20, 2020	6.25%	5.25%	cut -100 bp
Apr 15, 2020	5.25%	4.25%	cut -100 bp
May 22, 2020	4.25%	3.75%	cut -50 bp
Jul 24, 2020	3.75%	3.50%	cut -25 bp

Compared with other areas at the end of 2020

Türkiye17%

Russia4.25%

Mexico4.25%

India4%

China3.85%

Indonesia3.75%

South Africa3.5%

Philippines2%

Brazil2%

Malaysia1.75%

Colombia1.75%

Romania1.5%

North Macedonia1.5%

Morocco1.5%

Kuwait1.5%

Saudi Arabia1%

Serbia1%

Iceland0.75%

Hungary0.6%

Thailand0.5%

South Korea0.5%

Hong Kong0.5%

Chile0.5%

Peru0.25%

New Zealand0.25%

Czechia0.25%

Canada0.25%

United States0.125%

Poland0.1%

Israel0.1%

United Kingdom0.1%

Australia0.1%

Euro area0%

Sweden0%

Norway0%

Japan-0.1%

Denmark-0.6%

Switzerland-0.75%

Year-end rate over time

20267.25%

20256.75%

20247.75%

20238.25%

20227%

20213.75%

20203.5%

20196.5%

20186.75%

20176.75%

20167%

20156.25%

20145.75%

20135%

20125%

20115.5%

20105.5%

20097%

200811.5%

200711%

20069%

20057%

20047.5%

20038%

200213.5%

20019.5%

200012%

← 2019 2021 →

2020: hikes and cuts worldwide →

Daily policy-rate data compiled by the BIS. Not investment advice.