Whats prime interest rate
The WSJ Prime Rate is essentially the base interest rate that banks are charging borrowers, and it's referenced by lenders and borrowers alike. It's published each 14 Dec 2017 It doesn't have a direct effect as almost all mortgage rates are either linked to Hibor (the Hong Kong Interbank Offered Rate), or linked to prime The South African Reserve Bank unanimously decided to axe its benchmark repo rate by 100 bps to 5.25% during its March 2020 meeting, surprising markets