More interest-rate cuts on the horizon, says BNP Paribas
The company revised its GDP forecast made two weeks ago of a 4% contraction, to 8.5% in 2020
15 April 2020 - 15:09
International banking group BNP Paribas said the SA Reserve Bank has room for even more cuts to the repo rate in 2020 to offset the anticipated economic effects of Covid-19.
With the extended national lockdown placing pressure on the local economy, BNP Paribas said its expects the Bank to cut rates by an additional 125 basis points (bps) or more in 2020 depending on the extent of the pandemic and the severity of the economic damage caused. ..
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