A longer wait for rates relief
The past two weeks have been eventful, especially on the monetary policy front. The American and South African central banks held interest rate setting meetings within hours of one another. While the officials of the US Federal Reserve (the Fed) might not even have known that their South African counterparts were making an interest rate decision, the members of the Reserve Bank’s monetary policy committee (MPC) are acutely aware of what Fed chair Janet Yellen is doing.