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CONKLING KOPCIKECONOMICS
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South Africa: Central bank policy rate

The central bank's main policy rate at the end of the month, as compiled by the Bank for International Settlements from the central banks' announcements (the midpoint of a target range; for euro-area members, the European Central Bank's rate).

Data status: Current
Official statisticSource figures as of October 16, 2026Sources & methods
Sources
Bank for International Settlements, from central banks
Period covered
Dec 1980 – Sep 2026
Source figures as of
October 16, 2026
Geography
South Africa
Sector
Whole economy (not a single sector)
Seasonal adjustment
Not applicable
Transformations
Views other than the level (changes, averages, volatility) are calculated by CK Economics from these figures
Revisions
Replaced with the source’s latest figures whenever it revises them.
Data status
Current

Full method · Research standards

Key figures

CK estimate% per year · calculated by CK Economics from Bank for International Settlements data

Latest · Sep 2026
7.25
+0.3 pp vs a year earlier1
5-year change
+3.8 pp
since Sep 20212
10-year change
+0.3 pp
since Sep 20162
Record high
21.9
Sep 19983
Record low
3.5
Jul 2020 (and 15 other periods)3
Where the latest ranks
34th pct.
Higher than 34% of the other 549 observations since Dec 19804
  1. 1Latest observation against the observation one year earlier (for weekly data, the nearest within three days).
  2. 2Latest observation against the observation five and ten years earlier.
  3. 3Highest and lowest published observations across the full history shown.
  4. 4Share of the other published observations that are lower than the latest one, rounded down.

Methodology

The central bank's main policy rate at the end of the month, as compiled by the Bank for International Settlements from the central banks' announcements (the midpoint of a target range; for euro-area members, the European Central Bank's rate). Compiled by the BIS from the central banks' own announcements: each country's main policy rate at the end of the month. Euro-area members show the European Central Bank's rate (the deposit facility rate since September 2024, the main refinancing rate before), from 1999. For a target range (the U.S. federal funds rate), the BIS gives its midpoint. Source series WS_CBPOL:M.ZA. Licence: BIS terms of permitted use of BIS statistics: unrestricted, with the BIS cited as the source (https://data.bis.org/help/legal).

How we collect, check and project every dataset →

Source

Bank for International Settlements, from central banks, Central bank policy rates (BIS, retrieved 2026-10-19). https://data.bis.org/topics/CBPOL/BIS%2CWS_CBPOL%2C1.0/M.ZA

All data

550 observations, newest first · % per year

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PeriodValueChange y/y
Sep 20267.25+0.25 pp
Aug 202670 pp
Jul 20267−0.25 pp
Jun 20267−0.25 pp
May 20267−0.25 pp
Apr 20266.75−0.75 pp
Mar 20266.75−0.75 pp
Feb 20266.75−0.75 pp
Jan 20266.75−0.75 pp
Dec 20256.75−1 pp
Nov 20256.75−1 pp
Oct 20257−1 pp
Sep 20257−1 pp
Aug 20257−1.25 pp
Jul 20257.25−1 pp
Jun 20257.25−1 pp
May 20257.25−1 pp
Apr 20257.5−0.75 pp
Mar 20257.5−0.75 pp
Feb 20257.5−0.75 pp
Jan 20257.5−0.75 pp
Dec 20247.75−0.5 pp
Nov 20247.75−0.5 pp
Oct 20248−0.25 pp