SA: Statement by Chose Choeu, President of South African Chamber of Commerce and Industry, welcoming the interest rate cuts (19/07/2012)

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Published: 19 Jul 2012

SA: Statement by Chose Choeu, President of South African Chamber of Commerce and Industry, welcoming the interest rate cuts (19/07/2012)

The South African Chamber of Commerce and Industry (SACCI) welcomes the decision by the Reserve Bank to cut interest rates by 50 basis points. This decision will go a long way towards alleviating cost pressures on households and businesses (and SMEs in particular) although the measure in and of itself is unlikely to have a significant impact on improving economic activity. The cut is also a welcome indication that long-term inflation is expected to moderate.