There was good news for South Africans in debt on Thursday when the SARB's monetary policy committee elected to cut the interest rate.

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.

The decision to cut the repo rate signals a shift towards a more accommodative monetary policy stance in light of favorable inflation trends and supportive economic indicators.