Dr Azar Jammine on first interest rates cut since 2020

Relief for indebted households and businesses as the Reserves slashes interest rates for the first time in 4 years. The Reserve Bank announced earlier today that interest rates have been cut by a quarter of a percentage point, taking the repo rate to 8% and the prime rate to 11.5%. Analysts believe this is the beginning of a rate cutting cycle which will make the cost of debt slightly cheaper. We are now joined by Econometrix Director and Chief Economist, Dr Azar Jammine. For more news, visit sabcnews.com and #SABCNews on all Social Media platforms.