South Africa delivers third successive rate cut

Move comes as inflation remains at lower end of target range

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In a 4–2 split decision, the South African Reserve Bank (Sarb) cut its benchmark interest rate by 25 basis points to 7.5% on January 30, the third consecutive reduction since it began easing policy last September.

The two dissenting members of the monetary policy committee (MPC) voted to leave the rate unchanged. The size of the cut had been expected by Bloomberg, whose survey of 20 economists showed a median estimate of a 25bp reduction, with only one economist expecting a 50bp cut.

Sarb governor

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