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South Africa Central Bank Cuts Interest Rate
South African Central Bank cut interest. On Thursday, CB President Lesetja Kganyago said the bank's monetary policy committee board cut 25 basis points to 3.50 percent by
Yazar: Elif Dinçer
Yayınlanma: 25 Temmuz 2020 00:33
Güncellenme: 23 Kasım 2024 13:56
South African Central Bank cut interest. On Thursday, CB President Lesetja Kganyago said the bank's monetary policy committee board cut 25 basis points to 3.50 percent by reducing repo rate.
Three of the five members of the panel voted for a 25 basis point interest rate cut, while two people voted to stay on hold.
Inanimate inflation allows interest cuts to support the South African economy, which is expected to experience the toughest shrinkage of nearly ninety years.
Policy interest in South Africa has been at the lowest level since 1998 when it was introduced.
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