EDITORIAL: MPC doves ride the GNU
At last, there’s light at the end of the interest rate tunnel
24 July 2024 - 06:00
The fact that two dovish members of the Reserve Bank’s monetary policy committee voted to cut the repo rate last week is the first sign in seven months of “holds” that the Bank is nearing the start of a rate-cutting cycle.
The markets expect inflation to continue to unwind, and inflation expectations to fall in tandem, paving the way for the first 25 basis point cut in September, potentially followed by at least two more, to take the repo rate down to 7.5% by the end of January 2025...
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