Lockdown muted Bank’s policy measures, says Lesetja Kganyago
Restrictions negated effects of cuts in repurchase rate on stimulating demand and production
25 May 2020 - 08:16
Due to the lockdown of the economy, policy measures announced by the central bank have not filtered through yet, governor Lesetja Kganyago said.
The Reserve Bank has cut its repurchase rate by 275 basis points this year, the fifth-biggest downward move by global central banks, according to data compiled by Bloomberg. The benchmark is now at 3.75%, the lowest level since it was introduced in 1998...
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