Economy

Massive fuel drop helps offset cost pressures for the agriculture sector

The South African agriculture sector as well as consumer can breathe a sigh of relief following the announcement of a massive fuel price decrease of R1.76/ litre of both the retail price of the 93 ULP and LRP petrol, with the 95 ULP and LRP petrol falling by R1.88/ litre for Gauteng.

Moody’s Downgrade

PPS Investments: MPC Commentary

The Monetary Policy Committee (MPC) unanimously decided to decrease the repo rate by 100 basis points to 5.25%. This somewhat unprecedented move was a direct result of the deterioration in economic conditions due to the COVID-19 pandemic experienced in South Africa and across the globe.

Rate cut reflects risks to economy

Following the South African Reserve Bank’s (SARB) decision to cut its lending rate by 1%, FNB confirms that it will reduce its prime lending rate to 8.75% with effect from Friday 20 March 2020.