After slashing its key lending rate by 300 basis points to 3.5% in 2020, the South African Reserve Bank finds itself in an unusual position. It has scope for yet another rate cut, even in the face of a strongly rebounding economy.
“… an increasingly bullish outlook for the global capital expenditure cycle over the next 12 months bodes well for emerging market commodity currencies,” NKC African Economics said in a note. Then there is the festering issue of unemployment. With an official jobless rate of 30.8% — or more than 43% under the expanded definition, which includes discouraged jobseekers — demand pressures in the economy are exceptionally weak. Lacking a steady income is a big hindrance to spending.
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BUSINESS MAVERICK 168: SA Reserve bank likely to hold off cutting ratesDespite the fragile state of South Africa’s economy and weak domestic demand in the face of rising prices, the South African Reserve Bank will probably decide to exercise caution and not lower rates on 25 March. By Ed Stoddard Trading has been a lot easier with the help of Harry_btc5 who has been guiding me through my trading journey, with his strategy I've made lots of profits in less than 2weeks... Thanks Harry_btc5
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