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21 May 2012
   
 
 
 
 
 
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.

Edited by: laurian clemence
 
 
 
 
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