Economists are now considering whether the Reserve Bank's Monetary Policy Committee could drop interest rates further, after Thursday’s 50 basis points cut.
The bank said it was worried about the global economy.
The decision means a 20-year bond on a house worth R1,5 million will cost nearly R500 less a month.
Stanlib Chief Economist Kevin Lings said, “It does suggest the Reserve Bank’s concern around the state of the economy has increased within the last three months.
Meanwhile, Nedbank economist Isaac Matshego said more cuts could be in the cards.
“If there is further deterioration particularly in debt coming from Europe that could mean we’re going to see further cuts in our economy.”
(Edited by Clare Matthes)