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SA Lockdown Day 19 SARB makes an emergency interest rate cut
>> YOUR LINK HERE: ___ http://youtube.com/watch?v=E9NDgwXHH5A
The South African Reserve Bank has made an emergency interest rate cut. The bank cutting borrowing costs by 100 basis points, reducing the rate to 4.25%. This is the second rate cut of 100 basis points this year after the SARB lowered interest rates in March. • It marks another move by the bank to absorb the effects on the economy of the spread of covid-19. • May's monetary policy meeting was originally scheduled for next week. • But the bank has decided to make the emergency move. • For more on this we are joined by SABC Business news Anchor Arabile Gumede joins us via skype • • For more news, visit sabcnews.com and also #SABCNews, #Coronavirus, #COVID-19 on Social Media.
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