For your information, the South African Reserve Bank is not well known for cutting interest rates in December when it is normally a season of markedly higher levels of consumer spending, but the prime lending rate has in the past been lowered in December, at the following four occasions since 1948 after the Reserve Bank has cut the policy rate:



Past December cuts in the prime lending rate:

1 December 1962 (50 bps cut from 6% to 5,5%)

24 December 1986 (150 bps cut from 13,5% to 12%)

7 December 1998 (50 bps cut from 23,5% to 23%)

12 December 2003 (50 bps cut from 12% 11,5%)



The current view is for a 50 bps cut to 15% this Thursday.