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.
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:
Malaysia Malaysia Latest News, Malaysia Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
BUSINESS MAVERICK: SA Reserve Bank has plenty of excuses to cut rates again next weekThe South African Reserve Bank’s Monetary Policy Committee has plenty of scope to pull the trigger again and cut interest rates when it meets for the first time in 2021 this coming week. The decision will be announced by Governor Lesetja Kganyago on Thursday, January 21.
Source: dailymaverick - 🏆 3. / 84 Read more »
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
Source: dailymaverick - 🏆 3. / 84 Read more »
BUSINESS MAVERICK: February consumer inflation eases below Reserve Bank target range ahead of MPC decisionConsumer inflation slowed to 2.9% in February from 3.2% in January, Statistics South Africa said on Wednesday. Food for thought, as the South African Reserve Bank’s monetary policy committee deliberates interest rates. CPI is a lie Investing today will save you the stress of financial crisis tomorrow.. Live the kind of life you want today by investing and trading Bitcoin option. Trade with a professional trader and start making good profits today. Amelimarkdonal for transparency and trust. 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
Source: dailymaverick - 🏆 3. / 84 Read more »