Upgraded Moody’s outlook puts Sarb rate cut bank on the menu
Lower inflation and appreciating rand mean central bank could cut rates at meeting next week
The decision by South Africa’s monetary policy committee on whether to cut interest rates next week is likely to be a close call, after rating agency Moody’s Investors Service upgraded the country’s outlook to “stable”.
On March 23, Moody’s announced it would not be further lowering the rating on South Africa’s debt, having downgraded the country to its lowest investment grade – Baa3 – in June 2017, after a period of political turmoil.
The firm now says it is confident the “previous weakening
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