South African Reserve Bank to announce new interest rate on Thursday

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South African Reserve Bank to announce new interest rate on Thursday

Central banks in key markets across the globe as a measure to protect their economies and stimulate growth, have announced interest rate cut while some other countries are considering the option.

The South African Reserve Bank (SARB) said on Monday that it would announce its latest rate decision as scheduled at 15:00 local time (1300 GMT) on Thursday, but that reporters would dial into the news conference because of restrictions linked to the coronavirus outbreak.

Some analysts had speculated that the SARB would announce its rate decision ahead of schedule, given the expected economic impact of the coronavirus and an interest rate cut from the U.S. Federal Reserve.

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Author: abokimallamfx