Rate cut on the cards for strained consumers
Another reduction by the Reserve Bank next week would make it the fourth consecutive cut this year
The SA Reserve Bank could cut interest rates by as much as 100 basis points again next week, according to economists, bringing a glimmer of relief to SA’s consumers and households, many of whom face shrinking incomes and an uncertain financial future due to the coronavirus crisis.
Eight in 10 local economists surveyed by consumer comparison website Finder believe the Bank will cut interest rates at its meeting next week. Though views on the level of the cut vary between 25 basis points (bps) and 100 bps, the average forecast is for a cut of 50 bps...