Economics
S. Africa MPC Curbs Easing Expectations After Cutting Again
- Benchmark repurchase rate lowered to 3.75% from 4.25%
- Economy now seen contracting 7% in 2020, Kganyago says
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The South African Reserve Bank curbed expectations for further aggressive easing after cutting its benchmark interest rate for the fourth time in as many months in a bid to support an economy forecast to slump deeper into recession.