The South African Reserve Bank (SARB) governor, Lesetja Kganyago is today announcing the bank’s Monetary Policy Committee’s (MPC) decision on interest rates in the country.
Read more on the governor's announcement on the interest rate cut here.
Expectations ahead of the announcement pointed to no relief for financially constrained consumers with a deep cut in the interest rates today, in spite of inflation plunging further below its 3-6% target range and to its lowest level in 4-and-a-half years.
Instead, economists yesterday said the SARB will likely overlook this slowing down of consumer prices and only cut rates by 25 basis points as the headline inflation base will start normalising next year on the back of the US President-elect Donald Trump implementing drastic import tariffs.
Watch Kganyago deliver his address below:
BUSINESS REPORT