Interest and Repo Rates Flashcards
1
Q
What are interest rates?
A
The rate at which money can be borrowed from a bank.
2
Q
What are repo rates?
A
The rate at which the banks borrow money from SARB.
3
Q
What is the equation for interest rates?
A
Multiply the loaned money by the prime lending rate, then add the original loan to the interest rate.
4
Q
A
