Old Mutual noted that with inflation under control and consumer demand remaining subdued, the environment seems ripe for a rate cut.
Reserve Bank Governor Lesetja Kganyago . Picture: Simphiwe Mbokazi/Independent NewspapersThe South Africa n Reserve Bank’s Monetary Policy Committee is expected to announce its decision on the interest rate on Thursday, with many analysts, economists and ordinary citizens expecting some relief in the form of a 25 basis points decline.
The US Federal Reserve’s possible rate cut this month is also placing pressure on the SARB to take a more accommodative stance, according to Old Mutual. A rate cut by the Fed could ease global financial conditions, supporting a stronger Rand and providing the SARB with further impetus to further reduce rates.
The Governor acknowledged that there has been a decline in the inflation rate in July 2023 but emphasised that South Africa needs not just lower inflation, but have sustained low inflation.
Federal Reserve Old Mutual United States South Africa Lesetja Kganyago Finance Interest Rates Money Matters Business
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Kaizer Chiefs abandon marquee man, rekindle interest in an old flameKaizer Chiefs have found it difficult to land one of their major transfer targets and have now walked away from the deal.
Read more »
Kaizer Chiefs interest in Young Africans 20 year old star clarified!Young Africans SC President Hersi Ally Said has clarified his position on Kaizer Chiefs interest in his 20 year old starlet. Latest news!
Read more »
21-Year-Old Man Arrested for Repeatedly Raping 86-Year-Old Limpopo Woman Throughout the NightA Limpopo man will appear in court after he was arrested for repeatedly raping an 86-year-old woman throughout the course of one night in the Kirkvorsfontein area.
Read more »
‘Happy’ Ndah open to move away from Orlando PiratesThe 26-year-old centre-back has reportedly attracted interest from overseas clubs.
Read more »
Thembi Simelane To Face ANC’s Integrity Commission Over VBS Mutual Bank AllegationsThe African National Congress's Integrity Commission is expected to hear from the Justice Minister Thembi Simelane's involvement in the VBS Mutual Bank looting.
Read more »
Simelane back in Parly to face MPs just days after defending VBS Mutual Bank loanSimelane was before the committee on Friday to explain the R500,000 loan from Gundo Wealth Solutions, a beneficiary of the now defunct VBS Mutual Bank.
Read more »