Downgrade-wary Bank keeps rates on hold
Monetary policy committee was probably swayed by concern about a potential downgrade by Moody’s, say analysts
21 November 2019 - 15:18
In a close call, the SA Reserve Bank erred on the side of caution and decided to keep interest rates on hold despite expressing “serious concern” about the deteriorating economy.
Two of the five-member monetary policy committee (MPC) wanted an immediate cut in the repo rate, but it was left at 6.5%, said governor Lesetja Kganyago...
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