WARNING: This is Version 1 of my old archive, so Photos will NOT work and many links will NOT work. But you can find articles by searching on the Titles. There is a lot of information in this archive. Use the SEARCH BAR at the top right. Prior to December 2012; I was a pro-Christian type of Conservative. I was unaware of the mass of Jewish lies in history, especially the lies regarding WW2 and Hitler. So in here you will find pro-Jewish and pro-Israel material. I was definitely WRONG about the Boeremag and Janusz Walus. They were for real.
Original Post Date: 2010-09-09 Time: 05:00:02 Posted By: News Poster
By Roy Downing and Alistair Anderson
Johannesburg – The South African Reserve Bank is expected to announce on Thursday that it will cut interest rates by 50 basis points, according to a poll of economists conducted by Business Day Online.
The last rate cut was announced by Gill Marcus in March of this year, lowering the rate by 0,5% (50 basis points) to 6,5%.
Sasha Naryshkine, from Vestact, believes three months ago their was no consensus over a rate cut in the September meeting, however, economic factors have changed that.
“As we moved closer to the meeting, the rand has grown stronger. Some of the economic data is slowing, retail and credit extensions are still looking a bit shaky,” Naryshkine said.
Adenaan Hardien, a economist from Cadiz African Harvest, says there is enough scope for the bank to lower the rate. “The very conditions that the governor has outlined have been met. On the one hand growth has disappointed and there is serious risk around the outlook over the year and the medium term.”
“With the rand continuing to perform the way it currently is, it should have prompted an improvement in the bank’s longer term inflation expectation,” he added.
However, Investec economist Annabel Bishop said while the Reserve Bank was widely expected to cut by 50 basis points, there was still a definite possibility that interest rates would remain unchanged instead.
“We believe the correct move would be to cut by 1.0% this month, but continue to expect the SARB will be cautious and cut by 50bp instead. At past meetings, the Bank identified a number of issues likely to exert a negative influence on future inflation, including high salary and wage increases (well in excess of inflation), expectations of both future high inflation and wage increases, and high nominal unit labour costs,” she said.
Bishop said the sovereign debt crisis of earlier this year was no longer the focus of attention. It and the slowdown in global growth had increased the delay in US and most advanced economies’ monetary policy rate normalisation. SA’s interest rates were likely to stay low for longer and the carry trade (and hence rand strength) to persist, with only an outside chance of interest rates falling again after September’s 50bp cut.
The South African Reserve Bank will announce its decision on Thursday at 15h00.
Original Source: 
Original date published: 8 September 2010
Source: http://allafrica.com/stories/201009090042.html?viewall=1