EDITORIAL: On the cusp of a cut?
Split vote and dovish tone makes September cut likely
19 July 2024 - 05:00
Even if there had been a case for the Reserve Bank’s monetary policy committee (MPC) to spring a surprise rate cut this week, it was never going to hog the headlines on a day on which the president was giving the first opening of parliament address of the new government of national unity administration.
Governor Lesetja Kganyago and some of his fellow MPC members would be reluctant cutters at this early stage anyway. That is especially so since not only is inflation still above the Bank’s 4.5% target but also that they would like to see the target itself lowered to 3%...
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