Fiatmap

Cost of moneySouth Africa

Real policy rate in South Africa

Does money at the central bank’s rate actually beat inflation?

South Africa's real policy rate is 3.79 % — #5 of 53 countries on the atlas (higher is better). Period 2026-07.

3.79%

Checked 8 Sept 2026Period 2026-07

Source: Fiatmap derived metrics (own calculation from separately sourced components)

Positive: money in the bank in South Africa currently grows 3.8 pp faster than prices.

Among 53 countries

2 of 53 countries between -2.17 % and -1.86 %1 of 53 countries between -1.86 % and -1.55 %3 of 53 countries between -1.55 % and -1.24 %1 of 53 countries between -1.24 % and -0.93 %1 of 53 countries between -0.93 % and -0.62 %3 of 53 countries between -0.62 % and -0.31 %10 of 53 countries between -0.31 % and 0.00 %4 of 53 countries between 0.00 % and 0.31 %1 of 53 countries between 0.31 % and 0.62 %3 of 53 countries between 0.62 % and 0.93 %4 of 53 countries between 0.93 % and 1.24 %6 of 53 countries between 1.24 % and 1.56 %3 of 53 countries between 1.87 % and 2.18 %3 of 53 countries between 2.49 % and 2.80 %2 of 53 countries between 2.80 % and 3.11 %1 of 53 countries between 3.11 % and 3.42 %2 of 53 countries between 3.73 % and 4.04 %3 of 53 countries between 4.97 % and 5.28 %median 0.63 %South Africa: ahead of 91 % of the 53 countries with a published real policy rateSouth Africa 3.79 %-2.17 %5.28 %
Half of all 53 countries sit between -0.15 % and 1.91 %. South Africa is ahead of 91 % of them. Axis trimmed to the 2nd–98th percentile; 3 values beyond it sit in the end bars.
Rank
#5 of 53
higher is better
Ranked behind
91 %
48 of 53 countries

vs median 0.63 %: +3.16 pp (better)

The neighbourhood

#CountryReal policy ratevs South Africa
3 Russia5.28 %+1.49 pp
4 Indonesia3.84 %+0.05 pp
5 South Africa3.79 %—
6 Philippines3.34 %−0.45 pp
7 China2.94 %−0.85 pp

Policy rate minus annual CPI inflation — positive means money in the bank beats inflation. Our calculation from separately sourced components.

How to read this figure

Our own calculation: the central bank policy rate minus annual CPI inflation. It answers one question — does parked money beat rising prices? Both components are separately sourced official figures, and we never compute it when either leg is missing.

Next, about South Africa

Inflation rateLending rate
Real policy rate, all countries ranked →Compare South Africa with another country →Everything about South Africa →Methodology →
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