FX.co ★ South Africa 10-Year Bond Yield Hover at 2021-Lows

South Africa's 10-year government bond yield has decreased to 8.61%, approaching its lowest level since February 2021. This drop follows the South African Reserve Bank's decision to implement a widely expected cut to the repo rate, bringing it down to 6.75%. The cut was decided unanimously. Additionally, Finance Minister Enoch Godongwana revealed in the Medium-Term Budget Policy Statement that the country's inflation target is set to be reduced to 3%.