Reserve Bank expected to cut repo rate on March 28

The South African Reserve Bank (SARB) will cut its repo rate by 25 basis points to 6.50% just days after Moody’s is expected to give the country another chance to reform its finances, a Reuters poll found on Tuesday. Fifteen of 22 economists said the Bank would cut interest rates by 25 basis points on March 28, while two pencilled in a 50 basis-point cut. The remaining five said there would be no change.