Banks offer each customer, on an individual basis, an interest rate for a loan that is quoted using prime as a reference rate. In line with monetary policy and inflation targeting, the South African Reserve Bank (SARB) makes use of the repurchase (repo) rate to influence short term interest rates in the market. This is a mechanism the SARB uses
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The Banking Association comprises four divisions representing different interests of the banking industry.
Promotes access to, and the use of affordable, quality and appropriate financial services and products.
Contributes to the efficient management and development of the National Payments System.
Represents South African banks at local and international authorities who regulate the industry.
Represents the banking industry regarding legislation and regulation that affects their customers.
