Possible interest rate relief on the cards
Updated | By JacarandaFM News
The South African Reserve Bank's Monetary Policy Committee is meeting to decide on the country interest rate.
The repurchase rate currently stands at 7.0% per annum.
Director and Chief Economist of Econometrix Dr Azaar Jammine says we could get some relief.
"Theoretically, there could be a cut in interest rates, in the light of the fact that today's CPI inflation figure is likely to show a sharp decline," says Jammine.
Jammine, however says, the interest rate is likely to remain unchanged.
"The Reserve Bank is very aware of the possibility of the Rand taking a huge knock in the event that risk appetite internationally subsides. Secondly, domestically there is a concern that South Africa could experience further credit ratings downgrades."
An announcement by is expected on Thursday.
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