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The South African Reserve Bank's monetary policy committee voted 3-2 on May 21 to cut the repo rate by 50 basis points to 3.75%, its fourth cut this year. The move followed a 100bp cut at an April emergency meeting.
The bank also said banks could apply for looser prudential requirements case by case.
Further monetary easing to a record low lowers borrowing costs and weighs on the rand, which affects the cost of imported feed ingredients for South African livestock producers.
centralbanking.comCentral Banking NewsdeskMay 22, 2020Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
