Johannesburg – The Reserve Bank has cut interest rates by one percentage point for the second time in just less than a month, bringing the repo rate down to 4.25% on Tuesday morning.
The 100 basis point cut on Tuesday follows a 100 basis point cut on March 19. In January, the Bank cut interest rates by 25 basis points.
The rand weakened after the announcement, trading 0.2% lower at R18.12/$ in morning trade.
Source: BusinessLIVE
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