National
Interest rate cut comes as a surprise - economist─── KATLEHO MORAPELA 16:13 Thu, 20 Jul 2017
Bloemfontein - Economist Dawie Roodt says it comes as a surprise that the Reserve Bank has decided to decrease interest rates today and not later this year.
He says this is a clear indication that the central bank reckons that the country needs as much support as it can get. Roodt, however, says the decision might have been a bit premature. The South African Reserve Bank governor, Lesetja Kganyago, announced today that the Repo Rate is down to 6.75%, while the prime cost of borrowing now is 10.25%.
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