South Africa makes 25bp cut

Central bank stays cautious but continues easing cycle amid slowing inflation

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The South African Reserve Bank (Sarb) on November 21 reduced its policy rate by 25 basis points to 7.75%.

This was the second consecutive meeting in which the central bank’s monetary policy committee (MPC) opted to make a cut. The Sarb initiated its easing cycle in September with another 25bp reduction.

The decision was widely expected. All 20 of the economists polled by Bloomberg had forecast a 25bp cut.

In a statement, the MPC noted that inflation had dipped below the bank’s target of 3–6%. Year

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