The South African Reserve Bank (SARB) has cut interest rates by 100 basis points to 7.5% as Africa's leading economy enters it first recession in over a decade.
The central bank's monetary policy committee noted that the cut was "expected to contribute to an improved inflation outlook, notwithstanding some current inflation inertia."
Annual consumer-price inflation only fell from 8.5% in March 2009 to 8.4% - still well above the central bank's 3-6% inflation target - in April, despite the cou
- A route to economic growth – The Belt and Road Initiative 2018 survey
- Policymakers should act now to prevent next crisis – IMF panellists
- The Bank of Italy’s approach to risk-based budgeting
- Fintech in the ‘new era’ – Sustainable and sound development
- China’s macroeconomy in the ‘new era’ of politics and power