MPC meeting dates: the next repo rate decisions
The next MPC meeting ends with a repo rate announcement on 19 November 2026, followed by 28 January 2027. Choose a path to see your bond after four meetings.
Example: a R1,500,000 bond, rates on hold· change a figure to see yours
Instalment after 27 May 2027
R15,228
+R0 a month against today’s R15,228
| Prime today | 10.75% |
| Prime after four meetings | 10.75% |
A scenario, not a forecast of the Reserve Bank’s decisions.
| Meeting | Prime | Instalment |
|---|---|---|
| 19 November 2026 | 10.75% | R15,228 |
| 28 January 2027 | 10.75% | R15,228 |
| 18 March 2027 | 10.75% | R15,228 |
| 27 May 2027 | 10.75% | R15,228 |
Compiled by Radif Partners · How the estimate is made
The Monetary Policy Committee (MPC) of the South African Reserve Bank sets the repo rate at scheduled meetings, six a year, each ending with an announcement on the last day. The Reserve Bank publishes the calendar in advance. The remaining announcement of 2026 is on 19 November 2026; the 2027 dates are 28 January 2027, 18 March 2027, 27 May 2027, 22 July 2027, 29 September 2027, 25 November 2027. The repo rate is 7.25% and prime 10.75% going into the November meeting, after increases of 0.25% in May and September 2026. On a R1,500,000 bond over 20 years at prime, the instalment is R15,228 a month. If the committee cut by 0.25% at each of the next four meetings, it would fall to R14,228 after 27 May 2027; if it raised by 0.25% each time, it would reach R16,256. These are scenarios to size the stakes, not a forecast: this site does not predict the committee’s decisions.
MPC meeting dates and your bond under three paths
For each scheduled announcement the table gives prime and the instalment on the example bond if the committee holds, cuts 0.25% or hikes 0.25% at every meeting. The real path is likely to mix holds and moves.
| Announcement | Hold | Cut 0.25% each time | Hike 0.25% each time |
|---|---|---|---|
| 19 November 2026 | R15,228 | 10.50%: R14,976 | 11.00%: R15,483 |
| 28 January 2027 | R15,228 | 10.25%: R14,725 | 11.25%: R15,739 |
| 18 March 2027 | R15,228 | 10.00%: R14,475 | 11.50%: R15,996 |
| 27 May 2027 | R15,228 | 9.75%: R14,228 | 11.75%: R16,256 |
The later 2027 meetings, 22 July 2027, 29 September 2027, 25 November 2027, are too far away to say much about: the committee decides each time on the data of the moment.
Decisions since 2024 and the fuel price at the time
The table sets each change of the repo rate since 2024 against the petrol 95 price in Gauteng in force at that date. Fuel is one of the inputs the committee weighs, through its effect on inflation.
| From | Repo rate | Petrol 95 then |
|---|---|---|
| 20 September 2024 | 8.00% | R22.19 |
| 22 November 2024 | 7.75% | R21.30 |
| 31 January 2025 | 7.50% | R21.59 |
| 30 May 2025 | 7.25% | R21.40 |
| 1 August 2025 | 7.00% | R21.87 |
| 21 November 2025 | 6.75% | R21.12 |
| 29 May 2026 | 7.00% | R26.63 |
| 25 September 2026 | 7.25% | R26.92 |
Your own bond at today’s prime
Example: a R1,500,000 bond over 20 years· change a figure to see yours
Monthly instalment
R15,228
at 10.75% over 20 years
| If the MPC hikes 0.25% | R15,483 (+R254) |
| If the MPC cuts 0.25% | R14,976 (-R253) |
| Interest over the term | R2,154,824 |
What to watch before each announcement
The committee’s statements discuss inflation and its outlook, the rand, wages, food and fuel prices, and rates abroad. For a household the practical question is simpler: how much would a move change the monthly budget? The repo rate page answers it for a single decision, the bond calculator for your own terms, and the December petrol estimate for the other cost that moves at the start of each month.