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Standard Chartered Says South Africa Likely to Cut Key Rate

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July 9 (Bloomberg) -- Razia Khan, an economist at Standard Chartered Plc, forecast that South Africa’s central bank will cut its benchmark interest rate by half a percentage point to 6 percent when it next meets on July 22. She had previously forecast that rates would be left unchanged.

South Africa’s “economic recovery has been weak so far, and highly dependent on the external environment,” Khan said in an e-mailed statement.

To contact the reporter on this story: Nasreen Seria in Johannesburg at nseria@bloomberg.net

To contact the editor responsible for this story: Philip Sanders at psanders@bloomberg.net