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South Africa’s Fifth Rate Cut May Signal Bottom of Cycle Near

  • Central bank reduces repurchase rate to 3.5% from 3.75%
  • Total easing for the year is now at 300 basis points
Lesetja Kganyago

Lesetja Kganyago

Photographer: Andrew Harrer/Bloomberg
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The South African Reserve Bank cut its key interest rate for a fifth time in as many meetings and tempered expectations for further aggressive easing, even as it forecast the economy will contract even more this year and inflation will stay muted.