Some economists say the low inflation outlook presented the South African Reserve Bank (SARB) with an opportunity for further monetary easing.
As the South African Reserve Bank’s Monetary Policy Committee (MPC) prepares to make a rate decision on Thursday afternoon, President Cyril Ramaphosa says many South Africans have benefited from the current low interest rate environment.
The Reserve Bank’s Monetary Policy Committee has decided to cut the interest rate by 25 basis points to 3.5%.
South Africa’s foreign direct investment (FDI) inflows rose in the first quarter of 2020, to 29.0 billion rand ($1.74 billion) compared to inflows of 10.5 billion rand in the final quarter of last year, the central bank said on Thursday.
South African Reserve Bank (SARB) governor, Lesetja Kganyago says he does not agree to the idea of lowering the interest rate to near zero percent.