Sarb makes fresh bid to revive output

sarb

The South African Reserve Bank (Sarb) on Thursday cut its benchmark repurchase rate by 50 basis points to 5.5%.

The Monetary Policy Committee (MPC) at the Sarb said that against the backdrop of a "continued negative domestic output gap" further stimulus would help address the continued weakness in the "supply side of the economy" through its impact on cyclical deviations of output from potential output.

The last time the MPC cut its benchmark was in September when it reduced its repurchase rate

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