The SA Reserve Bank’s monetary policy committee
yesterday cut the repo rate by 100 basis points, or one percentage point, from 6.25% to 5.25%.
South Africa is currently in a technical recession, and in addition, the economic impact of the coronavirus outbreak will be felt in a few months.
In more good news for consumers, it is expected that the petrol price could decrease by at least R1/litre in the first week of April.