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Interest rates to fall this week?

8 Nov 2011

Economists are predicting that South Africa's Reserve Bank governor Gill Marcus may cut interest rates by 50 basis points (0,5%) before January, according to an article published in Business Report.

The report quotes Ian Cruickshanks, head of strategic research at Nedbank Capital as saying the key rates in the domestic market were signalling a 65% chance of an interest rate cut by January next year.

According to Business Report, Brait economist Colen Garrow says that the Reserve Bank might even cut the rate later this week when in meets in Pretoria on Thursday. The repo rate is currently at 5,5%, its lowest level since October 1980 and down from its most recent peak of 12% in December 2008.

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