South African central bank cuts rates after first-quarter growth plunge

sarb-inside

The South African Reserve Bank has cut its policy rate by 25 basis points to 6.5%, after GDP contracted by 3.2% in the first quarter.

The decision was the Sarb’s first rate cut since March 2018. Governor Lesetja Kganyago announced the decision at a press conference today (July 18), where he spoke frankly about South Africa’s economic problems.  

Kganyago said the Sarb “remains concerned about longer-term risks”, arguing that “investment prospects will continue to be limited in the absence of

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: