The South African Reserve Bank (SARB)’s Monetary Policy Committee (MPC) will be announcing its decision on whether to make any changes to lending rates. The central bank lowered its repo rate to a five-decade low in 2020 at 3.5%. The monetary policy committee has cut the interest rate by three percentage points since the beginning of 2020. Two hundred and seventy five basis points of that easing was in response to the impact of COVID-19, and in support of the economic downturn which resulted from the pandemic-induced lockdown. Now we are joined by Advocate Lavan Gopaul, economist and director at Merchant Afrika to share his expectations ahead of this afternoon’s MPC decision.
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