The weaker-than-expected GDP number creates space for the SA Reserve Bank to reduce the repo rate this weekAfter the country’s worse-than-expected GDP outcome for the second quarter, attention is going to zero in on the Reserve Bank’s monetary policy decision, due out on Thursday.
The growth plummet is likely to necessitate a revision to the Bank’s own growth forecasts and could provide the Bank with further room to cut rates by another 25 basis points, according to economists.A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.
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