The Federal Reserve Board on Sunday implemented its second emergency interest rate cut this month, because of its increasingly dire predictions about the economic impact of the coronavirus.
Financial markets have plunged in recent weeks as investors fixated on potential costs of the coronavirus outbreak. Now all eyes are on the Reserve Bank’s Monetary Policy Committee. The coronavirus will keep the South African economy in a recession for much longer with dire consequences. The local economy is taking strain from disruptions in major trading partners and the impact on logistics and tourism.
Meanwhile, Minister of Finance, Tito Mboweni says that a conversation between him and the Governor of the South African Reserve Bank, Lesetja Kganyago, is taking place regarding what to do in the current pandemic.
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South Africa calls for travel bans due to coronavirus increases - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.The number of South Africans calling for government to issue travel ban into South Africa from countries hardest-hit by the coronavirus (COVID-19) is growing. COVID-19 Government needs to limit public gatherings since we already have cases of domestic infections. Don’t take chances, see how the UK numbers are still on the rise and Boris is not acting. Learn from China, Italy, America, Scotland and England. I wonder why do we have to toytoy for travel ban Our leaders need to take some decisive decisions and stopped being 'ooMabena'.
Source: SABC News Online - 🏆 32. / 51 Read more »
South Africa calls for travel bans due to coronavirus increases - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.The number of South Africans calling for government to issue travel ban into South Africa from countries hardest-hit by the coronavirus (COVID-19) is growing. COVID-19 Government needs to limit public gatherings since we already have cases of domestic infections. Don’t take chances, see how the UK numbers are still on the rise and Boris is not acting. Learn from China, Italy, America, Scotland and England. I wonder why do we have to toytoy for travel ban Our leaders need to take some decisive decisions and stopped being 'ooMabena'.
Source: SABC News Online - 🏆 32. / 51 Read more »