The lowering of SA interest rates
The interest rate is the amount of interest due per period as a proportion of the amount lent, deposited or borrowed. They key rate is the rate at which the private sector banks borrow from the central bank. A higher than expected reading should be taken as positive for the local currency and a lower than expected reading as negative for the local currency.
Yesterday the SARB cut interest rates by another 50 basis points (0.5%) and this has been done shortly after another 100 basis points (1%) cut to combat the effects of COVID-19 on the economy. The lower financing costs can encourage borrowing and investing.
Refer to you to your Fundamental Analysis module to learn more about the affect of Interest Rates.
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