Thursday, October 21, 2010

Marcus unclear on interest rates

By Lelethu Mquqo
21 October 2010


Reserve Bank Governor Gill Marcus insists that the bank cannot be accused of being soft on inflation.

He added that the monetary policy committee will not necessarily cut interest rates again next month.

Marcus says a decision on the 18th of November will depend on the information before the committee.

The Reserve Bank has reduced interest rates by 600 basis points since the end of 2008 to support the economic recovery.

Since then, inflation has slowed to a four-year low of 3.5%.

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