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23 June 2017 14:07 (South Africa)

Interest rates cut by 50 basis points

  • Andy Rice
    andy rice
    Andy Rice

    Andy Rice is a founding partner of Yellowwood Future Architects, a marketing strategy consultancy. In his other lives, he is the southern hemisphere's only supporter of Cambridge United Football Club, and was once upon a time the South African National Spoofing Champion. He has played football at Wembley and cricket at Lord's within the same weekend, but troubled the scorer on neither occasion. Things could only go up from here.

Reserve bank governor Gill Marcus has announced that the SA Reserve Bank's Monetary Policy Committee has unanimously voted to cut the repo rate by 50 basis points. The rate is now sitting at 6%, and the prime rate at 9.5%, the first time it has been in single figures for more than 30 years. The move was no surprise, having been predicted by everyone and their mom.

  • Andy Rice
    andy rice
    Andy Rice

    Andy Rice is a founding partner of Yellowwood Future Architects, a marketing strategy consultancy. In his other lives, he is the southern hemisphere's only supporter of Cambridge United Football Club, and was once upon a time the South African National Spoofing Champion. He has played football at Wembley and cricket at Lord's within the same weekend, but troubled the scorer on neither occasion. Things could only go up from here.

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