Economists say a cut in interest rate would not have had a significant impact…

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Economists say a cut in interest rate would not have had a significant impact…

Economists say a cut in interest rate would not have had a significant impact on growth. They reacted to the Reserve Bank’s Monetary Policy Committee’s decision to keep the repo rate unchanged at six-point-seven-five percent. However, Reserve Bank governor Lesetja Kganyago says the bank could resume with its monetary easing in the first quarter of next year. The bank has again revised its 2019 growth forecast down from 1.3 percent to one-percent. PWC’s economist Lullu Krugel says a cut would only bring marginal relief to indebted consumers.


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