Seeing that there were such compelling arguments for a cut, how was it that so many economists failed to see it coming?Something rather odd happened in the wake of the SA Reserve Bank’s decision to cut interest rates and inject much-needed stimulus for a struggling economy.
Surveys before Thursday’s call by the monetary policy committee indicated that the Bank, with half an eye on February’s budget and Moody’s Investors Service’s ratings review about a month later, would keep policy unchanged.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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