South Africa Central Bank's Rate Cut to 6.5% May Be It for Now
- Reserve Bank cut benchmark interest rate to a two-year low
- Four MPC members voted for cut; three favored unchanged stance
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The South African Reserve Bank’s move to cut its benchmark lending rate to a two-year low may be the last loosening of monetary policy for a while.
The central bank’s Monetary Policy Committee voted to trim the repurchase rate by 25 basis points to 6.5 percent, Governor Lesetja Kganyago told reporters Wednesday in the capital, Pretoria.