Economics
S. Africa Cuts Interest Rate to 6-Year Low to Tackle Virus Fallout
- Repurchase rate lowered to 5.25%, biggest cut since 2009
- Economy is now seen contracting by 0.2% in 2020, MPC says
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The South African Reserve Bank may have to go further than its biggest interest-rate cut in more than a decade to support an economy that’s expected to shrink from the impact of the coronavirus.