SARB expected to cut repo rate on Thursday

SARB expected to cut repo rate on Thursday

Indebted South Africans could receive good news from the South African Reserve Bank on Thursday.

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Economist Dawie Roodt believes the monetary policy committee is leaning towards a repo rate cut of 25 basis points. 

 

He says there are suggestions this could be the last reduction for a while but believes it won't be the last one this year.

 

" For now, I think another 25 points is pretty much in the bag, and another thereafter, but not immediately. And a third one could be possible by the end of the year. 

 

READ: SASSA beneficiaries moved to FNB amid Ithala liquidation


“Clearly, we are a little bit closer to that lower turning point in interest rate than what it was two months ago." The

 

Meanwhile, the US Federal Reserve left its key lending rate unchanged Wednesday, resisting pressure from President Donald Trump to continue cuts in the first rate decision since his return to office.

 

Policymakers voted unanimously to keep the Fed's benchmark lending rate between 4.25 per cent and 4.50 per cent, the Fed announced in a statement.

 

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