South Africa's central bank reduces MPC meetings

SOUTH AFRICA - The South African Reserve Bank is to reduce the frequency of its regular six-weekly monetary policy committee meetings to once every quarter, the bank said Thursday.

The bank's next interest rate-setting meeting will now be in mid-March rather than in early January as previously expected.

The move comes after the rand has plunged to a series of all-time lows against the dollar and other major currencies in recent sessions, losing more than 12% since last Thursday and a massive 46