Officials in some countries started cutting rates last year, but others, including those in Europe and the United States, have taken a more cautious approach.

South Africa's central bank struck a measured tone after its first rate cut in more than four years on Thursday, saying although inflation had fallen faster than expected there were still risks to the outlook.

With inflation subsiding, the European Central Bank is cutting its benchmark interest rate to prop up tepid growth with lower borrowing costs for companies and home buyers.

South Africans can loosen their belt a tiny bit this month as the SARB has decided finally to cut the interest rate.

South Africa's central bank cut its main interest rate for the first time in more than four years, as it said it saw inflation staying below the midpoint of its target range as far out as 2026.