Dennis Dykes says while the drop in the inflation rate provides enough incentive for the Reserve Bank to cut rates in January, a rate cut at this point is highly unlikely.interest rates
despite Stats SA announcing that consumer inflation decreased by point one of a percentage point to 3.6% in November. The main contributors to the slowdown in the inflation rate came from food and non-alcoholic beverages; housing and utilities; and miscellaneous goods and services. Dykes says while the drop in the inflation rate provides enough incentive for the Reserve Bank to cut rates in January, a rate cut at this point is highly unlikely.
“I think there’s a window of opportunity in the January meeting that the MPC may take the decision to give some relief as far as interest rates are concerned. The only difficulty there is that ahead of the national budget and just after the budget you’ve got the sovereign rating agencies meeting once again so they might feel a bit nervous cutting interest rates ahead of that.”
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Eskom implements stage six loadshedding - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.%Eskom says the incessant rains in various parts of the country are making it difficult for it to reduce loadshedding% Oh my God I am sick and tired of South Africa At this rate I think electricity should be free
Source: SABC News Online - 🏆 32. / 51 Read more »
Centurion floods claim one life - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.Centurion floods claim one life Co-operative Governance and Traditional Affairs Minister Nkosazana Dlamini-Zuma says the body of the person that was swept away by floodwaters in Centurion south of Pretoria, has washed up.
Source: SABC News Online - 🏆 32. / 51 Read more »
Orlando Pirates appoints new coach - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.Orlando Pirates appoints new coach Soweto giants Orlando Pirates have appointment German Josef Zinnbauer as the club’s new head coach on a three-year deal. The new coach has no cup-winning pedigree You behind with your updates. It's no longer breaking news I hope he will be able to turn things around at Orlando Pirates! Their current status was the same as Eskom's stage6 loadshedding
Source: SABC News Online - 🏆 32. / 51 Read more »
Mabuza concerned about Eskom's woes - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.Mabuza concerned about Eskom’s woes ANC Deputy President David Mabuza has described the ongoing power crisis in the country as extremely worrying. Pretty clear that there is no agreement between the different factions within the ruling party Does Mabuza knows what ESKOM is or does This guy is stupid I understand why he needed to be the DP. Magashule got him by the balls! He is worse than Cyril!! Oh please! They ignored the signs and are responsible for all this mess now they act surprised and worried. Just sayin what some will want to hear
Source: SABC News Online - 🏆 32. / 51 Read more »