| Interest rate cut - will they or won't they? |
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August 14 2003 at 02:21am Another interest rate cut is in the air as the monetary policy committee of the South African Reserve Bank met in Pretoria on Wednesday to review its monetary policy stance. Experts predicted the body would opt to reduce the repo rate, at which money is lent to commercial banks, by at least one percentage point. This will allow commercial banks to drop their prime interest rate to 12,5 percent. Economists were confident this would be followed by more cuts at the remaining two meetings of the committee. First National Bank chief economist Cees Bruggemans predicted a prime interest rate of 12,5 percent by the end of the year. - Sapa
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