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Thread: Surprise cut in repo rate

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    Site Caretaker Dave A's Avatar
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    Surprise cut in repo rate

    SA Reserve Bank governor Lesetja Kganyago announced on Thursday that the Monetary Policy Committee has decided to cut the interest rates.

    "The MPC has decided to reduce the repurchase rate by 25 basis points with effect from 21 July 2017, to 6.75% per annum," said Kganyago. "Four members preferred a reduction, while two members preferred an unchanged stance."
    full story here

    I can't say I'm really surprised personally.
    Inflation down to close on 5%.
    Country in a recession, which needs all the help it can get to turn around.
    Rand holding up pretty well frankly given recent dramas.

    There was room for a small move there...
    The trouble with opportunity is it normally comes dressed up as work.

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    Full Member padjakkels's Avatar
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    It something!!

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