Tuesday, November 17, 2009

Gill Marcus to reveal her interest rate policy

By Khanyisa Tabata
17 November 2009


All eyes will be on new Reserve Bank Governor Gill Marcus this afternoon, with labour unions demanding interest rate cuts to ease job losses.

Marcus is chairing her first Monetary Policy Committee meeting. Most analysts say Marcus will probably keep the repo rate at seven-percent.

But a few say she could surprise with a 50 basis point rate cut. Trade unions lobbied for former governor Tito Mboweni’s removal in the hope that they would have his successor’s ear.

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