The Reserve Bank has just announced an early MPC meeting. Most annalists expect an announcement of a full 100 basis points or 1% rate cut of the repo rate.
This expected rate cut is way over due! A meaningful rate cut should have happened in December 08, however our reserve bank minister decided to go "against grain" and cut it only by 50 basis points. This foolish decision has contributed to state of the SA economy which is now deep into the recession and cost many South Africans to loose their jobs.
The meeting will take place on March 23-24
