A processing system includes an interconnect fabric coupleable to a local memory and at least one compute cluster coupled to the interconnect fabric. The compute cluster includes a processor core and a cache hierarchy. The cache hierarchy has a plurality of caches and a throttle controller configured to throttle a rate of memory requests issuable by the processor core based on at least one of an access latency metric and a prefetch accuracy metric. The access latency metric represents an average access latency for memory requests for the processor core and the prefetch accuracy metric represents an accuracy of a prefetcher of a cache of the cache hierarchy.