When can we expect interest rates to drop in South Africa?
Not yet, and not confirmed for the 19 Nov 2026 MPC either. The SARB last moved on 23 September 2026, raising the repo rate 25 basis points to 7.25% and prime to 10.75%, effective 25 September 2026 — a hike, not a cut. Published forecasts bond.co.za tracks put the repo rate at 7.25%–7.5% after the 19 Nov 2026 decision: September delivered the top of the previous range — a unanimous 25bp hike to 7.25%. The SARB QPM still shows the policy rate broadly stable through the remainder of the year; Bank of America (Sep 2026) sees repo reaching 7.50%. Nedbank CIB is the only forecaster in bond.co.za's tracked set pencilling in rate cuts at all, and only from 2027 — three 25 basis-point cuts, per Moneyweb, 23 Jul 2026. bond.co.za does not forecast rate decisions of its own; see the full, source-linked forecast roundup for every tracked institution.
What are the expected interest rates in South Africa for the rest of 2026?
As at 23 September 2026 the repo rate is 7.25% and prime is 10.75% (SARB, effective 25 September 2026). For the remainder of 2026, published forecasts bond.co.za tracks put the repo rate at 7%–7.25%: The QPM shows the policy rate "broadly stable through the remainder of the year"; most bank economists expect higher-for-longer while inflation stays above target. These are third-party institutional views, attributed and dated — not a prediction bond.co.za makes itself.
Will interest rates go up again in 2026?
It is possible, according to some forecasters bond.co.za tracks, though not certain. Bank of America expects two further 25 basis point hikes in 2026, taking the repo rate to 7.50% by year-end, per Moneyweb — Bank of America sees two rate hikes for SA this year, 21 Sep 2026. The SARB's own Quarterly Projection Model instead described the policy rate as “broadly stable through the remainder of this year, with cuts later in the forecast” in its September 2026 statement. If the 19 Nov 2026 MPC does raise rates by 25 basis points, a R 1 500 000 bond over 20 years would cost about R 254 more a month — a bond.co.za calculation, not a forecast of what will happen.
How much money would I save if interest rates were cut?
No cut has happened yet, so the figures below are an illustration of the arithmetic, not a prediction. If the SARB lowered the repo rate by 25 basis points at a future MPC, prime would fall to 10.50%. A R 1 500 000 bond over 20 years would then cost about R 253 less a month — a bond.co.za calculation using the same 20-year, prime+0 basis as our rate change impact calculator, which you can run for a hike or a cut at your own bond size.
A hold, a hike or a cut: what each would cost on your bond
bond.co.za's own calculation below compares three 19 Nov 2026 scenarios — a hold at today's 10.75% prime, a further 25 basis-point hike, and an illustrative 25 basis-point cut — on a 20-year term. None of these is a forecast of what the MPC will actually decide.
| Bond size | Hold (10.75%) | +25bp hike (11.00%) | -25bp cut (10.50%) | Monthly swing |
|---|---|---|---|---|
| R 1 000 000 | R 10 152 | R 10 322 (+R 170) | R 9 984 (-R 168) | ±R 170 |
| R 1 500 000 | R 15 228 | R 15 483 (+R 254) | R 14 976 (-R 253) | ±R 254 |
| R 2 000 000 | R 20 305 | R 20 644 (+R 339) | R 19 968 (-R 337) | ±R 339 |
Read the middle row: a R 1 500 000 bond costs R 15 228 a month at today's 10.75% prime. A further 25 basis-point hike would add R 254 a month; an illustrative 25 basis-point cut would remove R 253 a month. Scale the first column for your own bond size, and see bond.co.za's repo rate guide for how the repo and prime rates connect.
Rates verified as at 23 September 2026: prime 10.75% and repo 7.25% (SARB), effective 25 September 2026. Forecast ranges and institutional views are third-party, attributed and dated — see Sources below; bond.co.za originates no forecast of its own. Hold/hike/cut figures are bond.co.za calculations (20-year term, interest compounded monthly), illustrations of arithmetic under stated scenarios, not quotes or predictions. The next MPC decision is 19 Nov 2026.