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SARB

South African Reserve Bank

SARBSouth Africa·ZAR

Repo rate

7.50%

as of 2026-03-20

Next meeting

Jul 23

T-53d

The South African Reserve Bank is the central bank of South Africa, mandated to protect the value of the currency through price stability while supporting balanced and sustainable economic growth. Its Monetary Policy Committee meets six times a year to set the repo rate.

Meeting Schedule (2026)

Jan 29Mar 26May 28Jul 23Sep 23Nov 19

Policy decisions are announced on the dates above. Source: official central bank schedules.

Primary Currency
ZAR
Cross-firm view, consensus targets, and live rate

Repo rate

7.50%

As of 2026-03-20

ZAR 2026 consensus

16.25

median of 18 banks

Next macro event

GDP Growth Rate QoQ (Q1)

Jun 3

Upcoming Macro Calendar — South Africa

Next 8 high+medium impact events (next 30d)

DateEventCountryImpactConsensusPrevious
Wed, Jun 3GDP Growth Rate QoQ (Q1)ZAMed1%0.4%
Wed, Jun 3GDP Growth Rate YoY (Q1)ZAMed1.2%0.8%
Wed, Jun 3Gross Domestic Product QoQ (Q1)ZAMed0.4%
Tue, Jun 9GDP Growth Rate YoY (Q1)ZAMed1.2%0.8%
Tue, Jun 9GDP Growth Rate QoQ (Q1)ZAMed1%0.4%
Wed, Jun 17Inflation Rate YoY (May)ZAMed4.8%4%
Wed, Jun 17Inflation Rate MoM (May)ZAMed2%1.1%
Tue, Jun 30Balance of Trade (May)ZAMed15.16

Recent Commentary on SARB

Updated 11 days ago

3 most-recent items prefer LLM synthesis where available

Bank Consensus on ZAR

Aggregated 2026 year-end target across 18 sell-side firms

Median vs spot: -11.2%

Median
16.25
Spread
2.50
Top Bull
Citi18.00
Top Bear
DB15.50

Firm Coverage

Reports referencing SARB across covered research desks

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FX BANK FORECAST · COVERAGE

Institutional FX coverage in your inbox

Aggregated year-end forecasts, scenario shifts, and curated analyst notes from eight institutional desks. No promotion.