Lukanyo Mnyanda Editor: Business Day

Less than a month after Moody’s Investors Service warned SA about its debt metrics and lack of economic growth, another agency, S&P Global, has done the same. So if there was any doubt about why the Reserve Bank decided against cutting interest rates on Thursday, that should be dispelled.

It wasn’t exactly a shock that S&P downgraded its outlook to negative. The reasoning behind the decision was predictable. What’s harder to forecast is whether we will do what is needed to avert more downgrades.

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