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SARB MPC expected to announce repo rate

The crucial question is will the reserve bank be aggressive when cutting the repo rate to help accelerate the economy?

SA Reserve Bank Governor Lesetja Kganyago. Picture: AFP.

JOHANNESBURG - The South African Reserve Bank is set to make the much-anticipated announcement on the repo rate on Thursday afternoon.

The monetary policy committee's expected to cut the rate but the real question is by how much.

The crucial question is will the reserve bank be aggressive when cutting the repo rate to help accelerate the economy?

The effects of the coronavirus, which has slowed down trade, crippling the economy and an oil price war all beg for a steeper rate cut.

In January, the apex bank cut the repo rate by 25 basis points to 6.25% and the prime lending rate to 9.75%.

A 100 basis point cut would help ease the burden on consumers and help spur on the economy by encouraging trade.

Reserve Bank Governor Lesetja Kganyago will make the announcement just after 3pm this afternoon.