Chief economist at Standard Chartered, Razia Khan, says a cut is a step in the right direction.
“The market has been pricing n close to 50 bps. Our own SARB view has been revised in recent pat but on reflection, we think 100 bps was fully justified. SA is now faced a health emergency with coronavirus is difficult to forecast with great accuracy where growth will come from. The economy can face a full contraction on a full-year basis of relatively small contraction of 0.2%.”
Economists say the Reserve Bank’s rate cut will provide a temporary reprieve to consumers and the economy as the coronavirus continues to spread around the world. BNP Paribas Senior Economist, Jeff Schultz, says the cut will not provide substantial support for the struggling economy. “It can help to cushion some of the blow to the economy. For every 25 bps that the SARB delivers, it adds about 0.1% to the economy. We are not talking about a game-changer for growth this year, but over the next 12 months it could add up to half a percentage point to GDP. It is not massive but also not insignificant…We do think this is a step in the right direction, but to create more jobs, we need the global economy to be fairing much better which for the next six months looks unlikely.
لقد قمنا بتلخيص هذا الخبر حتى تتمكن من قراءته بسرعة. إذا كنت مهتمًا بالأخبار، يمكنك قراءة النص الكامل هنا. اقرأ أكثر:
This gonna affect the Namibian economy badly!disadvantage of pegging!
المملكة العربية السعودية أحدث الأخبار, المملكة العربية السعودية عناوين
Similar News:يمكنك أيضًا قراءة قصص إخبارية مشابهة لهذه التي قمنا بجمعها من مصادر إخبارية أخرى.
Cricket South Africa concerned about players' safety abroad: Faul - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.Cricket South Africa (CSA) is concerned about local players that are based abroad in the wake of the coronavirus globally. Uhmm....if they are based abroad, they are not local.....just saying..... They must repatriate them if they are seriously concern
مصدر: SABC News Online - 🏆 32. / 51 اقرأ أكثر »
Churches cancel Easter services - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.The Catholic Church in Johannesburg has cancelled all its Easter services. This is a response to President Cyril Ramaphosa’s declaration of coronavirus as a national disaster via SABCNewsOnline Do they preach faith or fate ? Nightclubs LEADERSHIP by Ntate Matamela... A consultative President.....MzwaneleManyi
مصدر: SABC News Online - 🏆 32. / 51 اقرأ أكثر »
Home - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.SABCNews Top Stories | 18 March 2020 Visit for the latest on these stories and more. CoronaVirusUpdate COVID19SouthAfrica CoronavirusInSA Wanderers Taxis Ramaphosa Mbalula Morning guys this compensation of injuries at work it doesn't apply in other companies they say are taking you to the hospital and they pay the expense of medicine...and we're I work we had accident 3 years back and the workers get injured others died that day but no one get that Can flies carry the virus can you feature this please?
مصدر: SABC News Online - 🏆 32. / 51 اقرأ أكثر »