Reserve Bank cuts interest rates by 25 basis points
The bank cut its GDP forecasts to 0.4% for 2019, from 0.5%, thanks largely to electricity supply constraints
16 January 2020 - 15:10
In a move that could offer some respite to SA’s battling consumers Reserve Bank governor Lesetja Kganyago announced an interest-rate cut of 25bps on Thursday
The cut, which takes the repo rate to 6.25%, was a possibility as SA’s growth has flagged and inflation has slowed to its lowest levels since December 2010. However, many economists believed the Bank would stay hawkish as SA confronts a difficult February budget and the possibility of a ratings downgrade by Moody’s Investors Service...
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