SARB's easing cycle accelerates

The South African Reserve Bank cut its key rate by 100 basis points on Thursday following a 50 basis-point cut in January.

The cut leaves the Reserve Bank's benchmark rates at 10.5%. Last month's move lowered rates from a five-year high.

In a post-meeting press conference, Tito Mboweni, the governor of the Reserve Bank, said: "I went in there guns blazing for a 200-basis-point [cut] but they - the MPC [Monetary Policy Committee] - would not be persuaded."

Analysts expect another cut of at least

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