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Sout
h African Reserve Bank governor Tito Mboweni was expected to
cut lending rates by one per cent today, a leading economist said
yesterday.
The Monetary Policy Committee concludes two days of deliberations
on the central bank's repo rate today, and Mboweni is expected to
announce its decision live on television.
PLJ Financial Services economist Dawie Roodt said the rand had
strengthened recently, probably because the forex market expected
that the rate would be cut by only one per cent.
Roodt said: "There is a chance it might be cut by more, by 1,5% or
even two per cent, but that would be irresponsible".
Roodt predicted another cut for September and even a further
reduction early next year. – Sapa.